Chapter 04 Homework - Income Statement Exercise 04-07a Multiple-step income statement Latifa Shoe Co. has compiled the following information for financial statement preparation for the year ended December 31, 2020. Rent revenue Interest expense Loss on impairment of property, plant, and equipment Salaries and wages expense (selling) Supplies expense (selling) Income tax expense Salaries and wages expense (general and administrative) Other administrative expenses Cost of goods sold Net sales Depreciation expense (general and administrative) Common dividends declared Common stock outstanding $29,000 18,000 31,000 114,800 17,600 23,100 135,900 51,700 496,000 980,000 65,000 16,000 20,000 shares Instructions: Prepare a multiple-step income statement. Round earnings per share to 2 decimal places. 4 of 12 Chapter 04 Homework - Income Statement Exercise 4-05 Single-step income statement, multiple-step income statement The following financial data pertains to P. Bride Company for the year ended December 31, 2020. General and administrative expenses Cost of goods sold Rent revenue Selling expenses Sales revenue Income tax expense Loss from flood damage Interest expense Dividends declared (common stock) Common stock outstanding (shares) $ 10.000 50,570 17,230 17,150 96,500 9,070 8,860 1,860 20,000 40,550 Chapter 04 Homework - Income Statement Instructions: Prepare a multiple-step income statement. Round earnings per share to 2 decimal places