Cara's Cookie Company

Adjusted Trial Balance (Selected Accounts)

For the Current Year Ended

Account

Debit

Credit

Common Stock (no par): Beginning Balance

$466,000

Retained Earnings: Beginning Balance

2,100,000

Accumulated Other Comprehensive Income: Beginning Balance

$71,000

Dividends

77,000

Sales

1,600,000

Interest Income

5,200

Dividend Income

3,600

Gain on Disposal of Plant Assets

78,000

Unrealized Gain on Trading Securities

41,000

Gain on Sale of Discontinued Operations-Before Tax

60,000

Unrealized Gain on Available-for-Sale Bonds-Before Tax

4,500

Cost of Goods Sold

530,000

Selling Expenses

51,000

Office Salaries Expense

83,000

Legal Fees-General

8,600

Sales Salaries Expense

27,000

Advertising Expense

21,000

Office Supplies Expense

72,000

Accounting Fees-Administrative

24,000

Amortization Expense-General

18,000

Depreciation Expense-General

29,000

Interest Expense

7,500

Loss on Asset Impairment

10,600

E5-7 (similar to) E Question Help Cara's Cookie Company provided the following accounts from its year-end trial balance (Click the icon to view the year-end trial balance accounts.) The company is subject to a 35% income tax rate Requirement Prepare a multiple-step income statement for the current year. Prepare Cara's multiple-step income statement for the current year, one section at a time (List the subheadings in the order they are typically shown on a multi-step income statement. Use parentheses or a minus sign to enter other expenses or a loss) Cara's Cookie Company Statement of Net Income For the Current Year Ended Less