Comprehensive Problem 41 Part 2: Note: You must complete part 1 before part 2 After all of the transactions for the year ended December 31, 20s, had been pested (including the transactions recorded in part (1) and all adjusong entries, the data that follows were taken from the records of Equinox Products Inc. Income statement data: Advertising expense Cost of merchandise sold $150,000 5,200,000 Delivery expe 30,000 Depreciation expense office buildings and equipment 30,000 Deprecation expense-store buildings and equipment 100,000 Ca o sale often 4,180 Income from Pkberry Co, mvestment 76,000 Income tax expense 142,000 Intervt exper 21,000 Interest revenue 720 Miscellenenes administrative expesse Miscellenes segme 7,500 14,000 Comprehensive Problem 1 - CNOW Miscellaneous selling expense Office rent expense Office salaries expense Office supplies expense Sales Sales commissions expense Sales salaries expense Print Item 14,000 50,000 Store supplies expense Retained earnings and balance sheet data: Accounts payable 170,000 10,000 5,254,000 185,000 385,000 21,000 $194,300 Accounts receivable. 545,000 Accumulated depreciation-office buildings and equipment 1,580,000 Accumulated depreciation-store buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Available-for-sale investments (at cost) 260,130 Bonds payable, 5%, due in 10 years 500,000 Cash 246,000 Common stock, $20 par (400,000 shares authorized; 2,000,000 100.000 DA 600. Common stock, $20 par (400,000 shares authorized; 100,000 shares issued, 94,600 outstanding) 2,000,000 Dividends: Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Goodwill 500,000 Income tax payable 44,000 Interest receivable 1,125 Investment in Pinkberry Co. stock (equity method) 1,009,300 Investment in Dream Inc. bonds (long term) 90,000 Merchandise inventory (December 31, 20Y5), at lower 778,000 of cost (FIFO) or market Office buildings and equipment Paid-in capital from sale of treasury stock Excess of issue price over par-common stock Excess of issue price over par-preferred stock 4,320,000 13,000 886,800 150,000 Preferred $1 stock, $80 par (30,000 shares authorized; 1,600,000 20,000 shares issued) Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, Jury 1, 2015 Store buildings and equipmen Treasury stock (5,400 shares of common stock at cost of $33 per share) alood gan (loss) on available-for-sale investment Valuation allowance for available for sale investments 9,310,725 12,500,000 170,200 06,500) 06,500) On your own papers the working papers, or using a spreadsheet, prepare the following a. Prepare a multiple step income statement for the year ended December 31, 2015, conchaling with comings per share. In computing earnings per share, assume that the average number of commoos shares outstanding was 100,000 d preferred dividends were $100,000. (Round eamings per share to the nearest cent.) Save your calculations and enter the requested amounts below b. Prepace a retamed earnings statement for the year ended December 31, 2015 Save your calculations and enter the requested amounts below. c. Prepare a balance sheet in report form as of December 31, 2015, Save your calculations and enter the requested amounts below It required, ye the minus sign to indicate loss before income tax, net loss, or a defen balance in retained eamings Gros profe Total selling exper Total adminative exper Total operating exper became from operations 1,554,000 885,000 267,500 1,152,500 401,500 comprehens TOBITCH & THHR Im Income from operations Net other expenses and income Income tax 401,500 68,000 $ 469,500 Net income 329,000 Earnings per common share (rounded to the nearest cent) 2.29 Retained earnings, January 1, 2015 9,319,605 Total current assets Investment in Dream Inc. bonds 90,000 Total property, plant, and equipment Total assets Total current liabilities Net long-term liabilities Total liabilities Total paid-in capital preferred $1 stock Total paid-in capital common stock, $20 par Total paid-in capital Retained earnings, December 31, 2015 Total stockholders' equity 12,560,000 A A SA EA