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Preparing a Multiple-Step Income Statement The following items are from the adjusted trial balance of Bailey Corp. on December 31, 2020. the end of its
Preparing a Multiple-Step Income Statement The following items are from the adjusted trial balance of Bailey Corp. on December 31, 2020. the end of its annual accounting period. Assume an average 25 income tax on al items. Weighted average shares of common stock outstanding for 2020 were 10,000 Sales revenue 164,700 Saling penses 5136003 Dupon for the period . Ceneral and administrative expenses 110.000 Recrevenue 2,400 Terever 900 Gaon sale of investment 2,000 interest expense 1.500 Cost of goods sold 130.000 Lost on sale of investment 22.000 Required Prepare a multiple-step income statement for the 12 months ended December 31, 2020, including the earnings per share disclosure. Assume that rent revenue is a nonoperating revenue. . Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smallest dollar amount Do not use negative signs with any of your answers Enter the answer for earnings per share in dollars and cents, rounded to the nearest perny. Required Prepare a multiple step income statement for the 12 months ended December 31, 2020, including the earnings per share disclosure. Assume that rent revenue is a nonoperating revenue Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smallest dollar amount . Do not use negative signs with any of your answers Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny Balley Corp Income Statement For the Year Ended December 31, 2020 3 Cost of goods sold Depreciation expense Expenses and losses Gain on sale of investment General and administrative expenses Gross profit thoome before income taxes Income tax expense Interest expense Interest revenue Loss on sale of investment Net Income Operating income Other expenses and losses Other revenues and gains Rent revenue Revenues and gains Sales revenue Selling expenses 5 5 Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smallest do Do not use negative signs with any of your answers. - Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Bailey Corp. Income Statement For the Year Ended December 31, 2020 $ . Operating expenses $ > > > a Other revenues and gains . Other expenses and losses ~
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