Handout Problem - Ch. 5 Nonban Puppets Corp, needis help creating its multiple step income statement, a statement of stockholders' equity and closing entries for the year ending December 31, 2017, On the Adjusted Trial Balance as of December 31, 2017 following page is a portion of N Additional information about the firm's activities during the year are as follows Nonban operates under a 30% tax rate 2 Nonban started the year with 25,000 shares of $2 par value cormmon stock and a APIC Common of $292,500. On January 1, 2017, the company issued an additional 98,000 shares of common stock for $9 per share. EPS should be calculated based on the number of common shares on hand after the new st January 1, 2017 ock is issued or INSTRUCTIONS: Prepare a properly formatted and labeled multiple step income statement and sta equity for Nonban for the year ended December 31, 2017. Prepare the entire set of closing entries for Nonban t a. tement of stockholders b. t is not included in the trial balance. There is no need for a journal entry for this amount. It is calculated by taking the three tax amounts included in the Income Statement and figuring out the total tax expense for the corporation Handout Problem - Ch. 5 Nonban Puppets Corp, needis help creating its multiple step income statement, a statement of stockholders' equity and closing entries for the year ending December 31, 2017, On the Adjusted Trial Balance as of December 31, 2017 following page is a portion of N Additional information about the firm's activities during the year are as follows Nonban operates under a 30% tax rate 2 Nonban started the year with 25,000 shares of $2 par value cormmon stock and a APIC Common of $292,500. On January 1, 2017, the company issued an additional 98,000 shares of common stock for $9 per share. EPS should be calculated based on the number of common shares on hand after the new st January 1, 2017 ock is issued or INSTRUCTIONS: Prepare a properly formatted and labeled multiple step income statement and sta equity for Nonban for the year ended December 31, 2017. Prepare the entire set of closing entries for Nonban t a. tement of stockholders b. t is not included in the trial balance. There is no need for a journal entry for this amount. It is calculated by taking the three tax amounts included in the Income Statement and figuring out the total tax expense for the corporation