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Please just do the multiple-step income P5-1 (similar to) Question Help Trial balance Hummingbird Products, Inc. provided the following information from its cu (Click the
Please just do the multiple-step income
P5-1 (similar to) Question Help Trial balance Hummingbird Products, Inc. provided the following information from its cu (Click the icon to view the trial balance.) Dividend Income Requirements a. Prepare a single-step income statement for the year ended Decem b. Prepare a multiple-step income statement for the year ended Decen 14,000 Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Unrealized Gain on Available-for-Sale Bonds 110,000 91,000 47,000 Requirement a. Prepare a single-step income statement for the year end Prepare Hummingbird's single-step income statement for the current yea Cost of Goods Sold 800,000 Hummingbird Products, Inc. 32,000 125,000 Statement of Net Income 63,000 For the Year Ended December 31 82,000 90,000 10,000 Selling Expenses Office Supplies Expense Sales Salaries Expense Advertising Expense Office Salaries Expense Accounting and Legal Fees-General Systems Consulting Fees-General Depreciation Expense-General Amortization Expense-General Interest Expense Loss on Discontinued Operations-Before Tax Loss on Asset Impairment 58,000 72,000 38,000 25,000 96,000 30,000 Choose from any list or enter any number in the input fields and then Print Done P5-1 (similar to) Trial balance - X tion Help Hummingbird Products, Inc. provided the following information from its current-year trial balance. (Click the icon to view the trial balance.) Requirements a. Prepare a single-step income statement for the year ended December 31. The tax rate is 30%. b. Prepare a multiple-step income statement for the year ended December 31. Hummingbird Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Requirement a. Prepare a single-step income statement for the year ended December 31. The tax rate is 30%. Prepare Hummingbird's single-step income statement for the current year, one section at a time. (Use parentheses or a minus $ 1,450,000 4.000.000 Common Stock (no par)-Beginning Balance Retained Earnings-Beginning Balance Accumulated Other Comprehensive Income-Beginning Balance Dividends Hummingbird Products, Inc. 103,000 Statement of Net Income $ 86,000 For the Year Ended December 31 Sales 2,200,000 Interest Income 40,000 Dividend Income 14,000 110,000 Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Unrealized Gain on Available-for-Sale Bonds 91,000 47.000 Cost of Goods Sold 800,000 32,000 Selling Expenses Office Supplies Expense 125,000 Choose from any list or enter any number in the input fields and then click Check Answer. Print DoneStep by Step Solution
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