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Please include the steps to the problem. Thank you. 1) Multiple step income statement. Presented below is information related to Nadar Company. Retained earnings, December
Please include the steps to the problem. Thank you.
1) Multiple step income statement. Presented below is information related to Nadar Company. Retained earnings, December 31, 2020 $ 650,000 Sales revenue 1,600,000 Selling and administrative expenses 290,000 Discontinued operations loss (pre-tax) 290,000 Cash dividends declared on common stock 33,600 Cost of goods sold 880,000 Cash 520,000 Other revenue 120,000 Other expenses 100,000 Instructions Prepare in Excel and in good form a multiple-step income statement for the year 2021. Only use appropriate information from above to prepare the multiple-step income statement. Assume a 30% tax rate and that 40,000 shares of common stock were outstanding during the year Step by Step Solution
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