Question
Kingbird Corporation had net sales of $2,408,700 and interest revenue of $32,400 during 2020. Expenses for 2020 were cost of goods sold $1,459,800, administrative expenses
Kingbird Corporation had net sales of $2,408,700 and interest revenue of $32,400 during 2020. Expenses for 2020 were cost of goods sold $1,459,800, administrative expenses $215,800, selling expenses $283,200, and interest expense $46,400. Kingbird's tax rate is 30%. The corporation had 101,300 shares of common stock authorized and 71,490 shares issued and outstanding during 2020. a condensed multiple-step income statement for Kingbird Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)
KINGBIRD CORPORATION
Income Statement
choose the accounting period
select an opening name for this statement
$enter a dollar amount
enter an income statement item
enter a dollar amount
select a summarizing line for the first part
enter a total amount for the first part
enter an income statement item
$enter a dollar amount
enter an income statement item
enter a dollar amount
enter a subtotal of the two previous amounts
select a summarizing line for the second part
enter a total amount for the second part
select an opening name for section two
enter an income statement item
enter a dollar amount
select an opening name for section three
enter an income statement item
enter a dollar amount
enter a subtotal of the two previous amounts
select a summarizing line for the third part
enter a total amount for the third part
enter an income statement item
enter a dollar amount
select a closing name for this statement
$enter a total net income or loss amount
select an income statement item
$enter a dollar amount rounded to 2 decimal places
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