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Help with multi step income statement Rent revenue $29,000 Interest expense 18,000 Market appreciation on land above cost 31,000 Salaries and wages expense (selling) 114,800
Help with multi step income statement
Rent revenue | $29,000 | |
Interest expense | 18,000 | |
Market appreciation on land above cost | 31,000 | |
Salaries and wages expense (selling) | 114,800 | |
Supplies expense (selling) | 17,600 | |
Income tax | 37,400 | |
Salaries and wages expense (administrative) | 135,900 | |
Other administrative expenses | 51,700 | |
Cost of goods sold | 496,000 | |
Net sales | 980,000 | |
Depreciation on plant assets (70% selling, 30% administrative) | 65,000 | |
Cash dividends declared | 16,000 |
There were 2U,UUo shares ot common stock outstanding dunng the year Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) LATIFA SHOE CO. Income Statement For the Year Ended December 31, 2014 980000 496000 484000 Net Sales of Goods Sold Gross Profit (Loss) Operating Expenses Selling Expenses Salaries and Wages E Depreciation Expense Supplies Expenses Total Selling Expenses 114800 455000 17600 177900 Administrative Expenses Salaries and Wages E Other Administrative Depreciation Expense Total Administrative Expenses 135900 51700 19500 207100 385000 Income From Operations 99000 Other Revenues and Gains Rent Revenue 29000
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