income before income tax??

net income/(loss)

Presented below is information related to Bonita Corp. for the year 2020. $ 76,800 $ 1,248,000 748.800 52.800 48,000 Net sales Cost of goods sold Selling expenses Administrative expenses Dividend renue 62,400 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 43,200 46,080 19,200 940.800 Interest revenue 6.720 Effective tax rate of 20% on all items Prepare a multiple-step income statement for 2020. Assume that 58,368 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, eg. 1.49.) BONITA CORP. Income Statement For the Year Ended December 31, 2020 Revenue Net Sales 1248000 Cost of Goods Sold 748800 Gross Profit/(Loss) 499200 Operating Expenses Selling Expenses 62400 1 Administrative Expenses 46080 Total Operating Expenses 108480 Income From Operations 390720 Other Revenues and Gains Dividend Revenue 19200 Interest Revenue 6720 25920 410640 Other Expenses and losses Casualty Los 48000 25920 416640 Other Expenses and losses Casualty Loss 48000 Write-off of Inventory Due to Obsolescence 76800 124800 Income Before Income Tax 291840 Income Tax Expense 58368 Net Income /(Loss) 233472 > Earnings Per Common Share 4 e Textbook and Media List of Accounts Save for Later Last saved 20 hours ago Saved work will be auto-submitted on the due date Auto submission can take up to 10 minutes Attempts: 2 of 3 used Subenit. Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above