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Exercise 4-9 (Part Level Submission) Presented below is information related to Splish Corp. for the year 2017 Net sales Cost of goods sold Selling expenses
Exercise 4-9 (Part Level Submission) Presented below is information related to Splish Corp. for the year 2017 Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2016 $84,130 48,800 52,200 44,690 1,030,540 $1,395,800 783,600 74,500 Casualty loss 49,900 21,800 Cash dividends declared Retained earnings at December 31, 2016 Effective tax rate of 34% on all items 8,510 Prepare a multiple-step income statement for 2017. Assume that 64,570 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g SPLISH CORP Income Statement December 31, 2017 Revenue Net Sales 1395800
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