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need help on this question thank you Presented below is information related to Victor Company at December 31, 2019, the end of its first year
need help on this question
thank you
Presented below is information related to Victor Company at December 31, 2019, the end of its first year of operations. In addition to the info presented below, assume 200,000 shares of stock were outstanding during 2019. Also assume a tax rate of 30% on all items Administrative expenses $ 52,500 Gain on sale of investments $ 25,000 Casualtylow $ 10,000 Interest expense 5 33.750 Cost of Goods Sold $ 900,000 Interest revenue $ 15,000 Cumulative decrease in come from Loss from operations of discontinued change in inventory methods $ 18,000 component of a business (before tax) S 180.000 Depron expense omitted in 2015 $78,750 Net Sales $ 1,462,500 Dividend revenue $ 22,500 Selling expenses $ 71.250 Dividends declared S90 000 Income tax expense $ 56,250 Gain from dispose of component of Write-off of goodwill due to business before $ 225.000 impairment $ 133,500 Requirements Prepare a partir multiple step income statement Begin with income from continuing operations (assume income from continuing operations is $400.000) and end with net income and eaming per share figures) or the year 2019. in appropriate format, including all headings subheading totals and sutiotals within the partial income statement 2 1 B 1 U S X 55 ! >Step by Step Solution
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