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Dont know if my answers are right need help. Thank you. The following balances were taken from the books of Wildhorse Corp. on December 31,
Dont know if my answers are right need help. Thank you.
The following balances were taken from the books of Wildhorse Corp. on December 31, 2017 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 $87,450 52,450 1,381,450 151,450 21,450 151,450 8,450 450 101,450 201,450 141,450 622,450 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 $41,450 29,450 156,450 195,450 171,450 101,450 98,450 33,450 61,450 101,450 151,450 501,450 22,450 46, Assume the total effective tax rate on all items is 34% repare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) WILDHORSE CORP Income Statement
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