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Marigold Corporation had net sales of $2,064,000 and interest revenue of $26,660 during 2022. Expenses for 2022 were cost of goods sold $1,247,000, administrative expenses
Marigold Corporation had net sales of $2,064,000 and interest revenue of $26,660 during 2022. Expenses for 2022 were cost of goods sold $1,247,000, administrative expenses $182,320, selling expenses $240,800, and interest expense $38,700. Marigold's tax rate is 30%. The company had 100,000 shares authorized and 70,000 shares issued and outstanding during 2022. Prepare an income statement for the year ended December 31, 2022. (Round earnings per share to 2 decimal places, eg. 1.48.) MARIGOLD CORPORATION Income Statement For the Year Ended December 31, 2022 Net Sales $ 2064000 Cost of Goods Sold (1247000) Gross Profit/(Loss) 817000 Selling Expenses 240800 Administrative Expenses 182320 (423120) Income From Operations Income from operations 393880 Other Income and Expenses Interest Revenue 26660 Income Before Income Tax Income Tax Net Income /(Loss) $ Earnings Per Share $
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