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Can somebody please help me to do with this accounting assignment questions? The question is attached below with the pictures % ADMN3221H Assignment 2.Fall17(1).pdf (page
Can somebody please help me to do with this accounting assignment questions? The question is attached below with the pictures
% ADMN3221H Assignment 2.Fall17(1).pdf (page 3 of 7)" Q s Question 10 (15 marks) Shown below is an income statement for 2016 that was prepared by a junior accountant at Marmora Corporation. MARMORA CORPORATION Income Statement December 31, 2016 Sales revenue $975,000 19,500 Special items Loss on disposal of a segment of the business............................. Major fire loss... (30,000) (80,000) 27.900) Net income Instructions In good form, prepare a multiple-step income statement for 2016 for Marmora Corporation that is presented in accordance with generally accepted accounting principles (including format and terminology). Marmora Corporation has 50,000 common shares outstanding and has a 20% income tax rate on all tax related items. As a private corporation, Marmora does not disclose earnings per share information Hint: The junior accountant may have calculated the Net income tax liability incorrectlyStep by Step Solution
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