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Income statement problems for Accounting class, help??? Question One Sally Corporation had the following account balances. 1) Please make an income statement using the multi-
Income statement problems for Accounting class, help???
Question One Sally Corporation had the following account balances. 1) Please make an income statement using the multi- step approach with the information below. 2) Please calculate earnings per share as well. Cost of Goods Sold $1,400,000 Selling Expense $244,000 Interest Revenue $42,000 Administrative Expenses $322,000 Income Tax Rate 22% Common Stock Outstanding 110,000 Interest Expense $25,000 Unrealized Gain on value of Patent $100,000 Sales 2,400,000 Question Two Discontinued Operations Amount $5,000,000 $260,000 Account Income from Continued Operations Loss from disposal of business segment net of taxes Loss on operations of business segment net of taxes Outstanding Common Stock Shares $340,000 200,000 Sally Corporation had the following account balances. Please make an income statement using the single step approach with the information below. Cost of Goods Sold $1,300,000 Selling Expense $314,000 Interest Revenue $32,000 Administrative Expenses $212,000 Income Tax Rate 20% Common Stock Outstanding 120,000 Interest Expense $20,000 Sales 2,100,000Step by Step Solution
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