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H 1 The December 31, 2018, post-closing trial balance ($in millions) for Zenith Company included the 2 following accounts: 3 4 Debits Credits 5 Sales
H 1 The December 31, 2018, post-closing trial balance ($in millions) for Zenith Company included the 2 following accounts: 3 4 Debits Credits 5 Sales revenue 5,500,000 6 Interest revenue 46,000 7 Loss on sale of invetments 12,000 8 Unrealized holding losses on investments 130,000 9 Foreign currency translation adjustment 250,000 10 Cost of goods sold 4,200,000 11 Selling expenses 400,000 12 Restructuring costs 180,000 13 Interest expense 25,000 14 General and administrative expenses 350,000 5 + 6 Zenith had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet 7 been accrued. The effective tax rate is 40%. Prepare a 2018 multiple-step income statement for Zenith Company with earnings per share disclosure. In addition, prepare a separate 2018 statement of comprehensive income for Zenith Company
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