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partial income statement net income for 2020 10,000 shares of common stock were outstanding during 2020 Cash Administrative expenses Selling expenses Net sales Cost of

partial income statement
net income for 2020
10,000 shares of common stock were outstanding during 2020 image text in transcribed
Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $47,000 94,000 75,200 507,600 197,400 18,800 14,100 37,600 28,200 84,600

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