CALCULATOR MESSAGE MY INSTRI Exercise 4-06 The following balances were taken from the books of Tamarisk Corp. on December 31, 2020 dy Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87,750 52,750 1,381,750 151,750 21,750 151,750 8,750 46,750 101,750 201,750 141,750 622,750 Accumulated depreciation equipment Accumulated depreciation buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings $41,750 29,750 156,750 195,750 171,750 101,750 98,750 33,750 61,750 101,750 151,750 501,750 22,750 Assume the total effective tax rate on all items is 20% Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Rou c.g. 1.48.) TAMARISK CORP. TO Cam ere to search