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Kieso, Intermediate Accounting, 17e Practice Assignment Gradebook ORION Downloadable eTextbook signment Exercise 4-07 a-b (Part Level Submission) The accountant of Latifa Shoe Co. has compiled the following information from the dy Rent revenue Interest expense Market appreciation on land above cost Salaries and wages expense (selling) Supplies expense (selling) Income tax Salaries and wages expense (administrative) Other administrative expenses Cost of goods sold Net sales Depreciation on plant assets (70% selling, 30% administrative) Cash dividends declared $29,000 18,000 31,000 114,800 17,600 23,100 135,900 51,700 496,000 980,000 65,000 16,000 There were 20,000 shares of common stock outstanding during the year. (a) Your answer is partially correct. Try again. Prepare a multiple-step income statement. (Round earnings per share to 2 decim LATIFA SHOE CO. Income Statement For the Year Ended December 31, 2020 Red Study & Practice Assignment Gradebook ORION Downloadable Textbook ment > Open Assignment CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN IGNMENT RESOURCES PRINTERV Your answer is partially correct. Try again. Prepare a multiple-step income statement. (Round earnings per Share to 2 decimal places 1.48.) View Results by Study Sective LATIFA SHOE CO. Income Statement For the Year Ended December 31, 2020 Thet Sales 980000 Cost of Goods Sold 496000 Gross Profit/ (LOS) 484000 Operating Expenses Selling Expenses Salaries and Wages Ex Deprecation Expense Materials and supplies Total Selling Expenses 136900 Binment > Open Assignment Materials and supplies 1 17600 ASSIGNMENT RESOURCES Chapter 4 Oros-05 rise 4-07 - (Part Total Selling Expenses 136900 Exer 4-11 Administrative Expenses Review Score Review Results by Study Salaries and Wages Ex T 2 Other Administrative 135900 51700 19500 Depreciation Expense Income From Operations 990000 385000 99000 Revenues Other Revenues and Gains 29000) i Rent Revenue Other Expenses and losses esc