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Preparing a Single- Step and a Multiple- Step Income Statement The following selected items are taken from the accounting records of Amick Corp. at December
Preparing a Single- Step and a Multiple- Step Income Statement The following selected items are taken from the accounting records of Amick Corp. at December 31. a. Prepare a single-step income statement (including earnings per share). Include income taxes in its own section. Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Note: Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. a. Prepare a single-step income statement (including earnings per share). Include income taxes in its own section. Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Note: Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Cost of goods sold Depreciation expense Depreciation expense (selling) Dividend revenue Gross profit Income before income taxes Income tax expense Interest expense Interest revenue Loss on sale of investments Net income Operating income Other expenses and losses Other general and administrative expenses Other revenues and gains Promotion expense Salaries expense Salaries expense (selling) Sales revenue Selling expense b. Prepare a multiple-step income statement (including earnings per share). Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Note: Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny
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