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Last question, please help me work this problem Multiple-step income statement. Shown below is an income statement for 2019 that was prepared by a poorly
Last question, please help me work this problem Multiple-step income statement. Shown below is an income statement for 2019 that was prepared by a poorly trained bookkeeper. Howell Corporation INCOME STATEMENT December 31, 2019 Sales revenue $ 800,000 Cost of goods sold (393,500) Selling & Administrative expenses (310,000) Restructuring costs (30,000) Interest expense (13,000) Gain on sale of building 19,500 Loss on disposal of segment of business (40,000) (before tax Prepare a corrected multiple-step income statement for 2019 for Howell Corporation that is presented in accordance with generally accepted accounting principles. The loss on disposal of segment of business was completed by 12/3/2019 and qualities as a component of the entity according to GAAP regarding discontinued operations. The discontinued division had incurred before tax operating income of 5100,000 in 2019 prior to the sale and its assets were sold at a before tax loss of $140,000 Howell Corporation has 50,000 shares of common stock outstanding Howel Corporation has a 30% federal income tax rate on all tax related items. Round at earnings per share figures to the nearest cent Altach pet po.word, or excel with your
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