Fall 2023 ACCT 300B-01 INTERMEDIATE ACCOUNTING 1 Homework assignment 3 Presented below are selected account balances of Sandra Company at the end of its fiscal year on December 31, 2022: Rental revenue Interest expense Beginning retained earnings Dividend revenue Discontinued operations loss Flood damage loss Dividends paid Selling expenses $ 8,000 9,500 6,400 1,000 3,000 Administrative expenses 4,500 Depreciation overstatement Sales revenue Cost of goods sold $ 6,000 50,000 375,000 110,000 30,000 2,000 Additional facts are as follows: i) The discontinued operations loss was after tax ii) $2,000 (net of tax) stated above arose from an internal audit discovery of an error in the computation of depreciation expense in a prior year. iii) Applicable income tax rate for all items is 21%. iv) 100,000 shares of common stock were outstanding throughout the year. There were no other categories of stock issued. Instruction From the above figures and additional facts, prepare a multiple-step income statement and a retained earnings statement for the fiscal/financial year ended on December 31, 2022. Note: Be sure to display Earnings Per Share (EPS) as the bottom of the income statement.

Fall 2023 ACCT 300B-01 INTERMEDIATE ACCOUNTINS 1 Homework asaignment 3 Presected below are selected account balances of Sandra Company at the end of its Additional tacts are as follows: 1) The discontinued operations loss was afher bax. i) $2,000 (net of tax) stated above arose from an insemal asidit discovery of an ero x in the corroutation of depteciation expense in a prior year. ii) Applicable income tax rate for all ilems is 21%. in) 100,000 shares of common stock were costatanding troughout the year. There were no other categones of stock issued. Instruction From the above foures and additionat facts, prepare a rultiple-step income statemert and a ietained eamings statement for the facaithancisl year ended on December 31 . 2022 Nolec Be wure to Sisplay Earnings Per Share (EPS) as the botlom of the income stalement