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How would I create an income statement and a retained earnings statement with the data given? Question 2 of 3 -/3 View Policies Current Attempt
How would I create an income statement and a retained earnings statement with the data given? Question 2 of 3 -/3 View Policies Current Attempt in Progress Presented below is information related to Sunland Corp, for the year 2020. Net sales $1,352,000 Write-off of inventory due to obsolescence Cost of goods sold 811,200 Depreciation expense omitted by accident in 2019 Selling expenses 67,600 Casualty loss Administrative expenses 49.920 Cash dividends declared Dividend revenue 20.800 Retained earnings at December 31, 2019 Interest revenue 7.280 Effective tax rate of 20% on all items $83.200 57.200 52.000 46,800 1,019,200 Prepare a multiple-step income statement for 2020. Assume that 63,232 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, eg. 1.49.) SUNLAND CORP. Income Statement Sprin MacBook Air
How would I create an income statement and a retained earnings statement with the data given?
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