Preparing an income Statement and a statement of Comprehensive Income The following pretax amounts are taken from the adjusted trial balance of Avoca Auto Corp. at December 31, 2020, its annual year-end, Sales 1780.000 Cost of goods sold 330,000 Operating expenses 240.000 Gainon debt retirement 60.000 reponse 24,000 Los from discontinued operations 150.000 Retained earnings balance December 31, 2019 90.000 Dividends declared and paid Unrealed holding gainon debt investment securities.net of tax 12.000 Common stock, weighted average shares outstanding 30.000 shares Required a. Prepare a single-step income statement. Assume an average 25 tax rate on all items. Include earnings per share disclosures b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income. Ignore earnings per share disclosures Compute the ending retained earnings balance at December 31, 2020, 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 answers for per share amounts in dollars and cents, rounded to the nearest penny, 75.000 Prepare a ingle-step income statement. Assume an average 25 tax rate on all items include earnings per share disclosures b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income ignore warning per share disclosure Compute the ending retained eamings balance at December 31, 2020 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 answers for per share amounts in dollars and cents, rounded to the nearest penny Single-step income Statement Statement of Comprehensive Income Retained Earnings Balance Prepare a single-step income statement. Assume an average 25 tax rate on all items include earninys per thare disclosures Avoca Auto Corp Income Statement For the Year Ended December 31, 2020 . e D - D Total revenues and gains 0 . Total expenses and losses GOOOOOO Income from continuing operation : 0 . 3 0 Per share . 1 DOO 1 b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income, ignore earnings per share disclosures Avoca Auto Corp Income Statement For the Year Ended December 31, 2020 4 5 . Total revenues and gains DOO . Total expenses and losses ooooooo - Income from continuing operations 0 5 0 Avoca Auto Corp. Comprehensive Income Statement For the Year Ended December 31, 2020 5 . $ 0 2. Prepare a single step income statement. Assume an average 25% tax rate on all items. Include earnings per share disclosures b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income ignore earnings per share disclosures c. Compute the ending retained earnings balance at December 31, 2020 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 answers for per share amounts in dollars and cents, rounded to the nearest penny Single step Income Statement Su. ent of Comprehensive income Retained Earnings Balance o Compute the ending retained earnings balance at December 31, 2020.5 Check Prag question Preparing an Income Statement and a statement of Comprehensive Income The following pretax amounts are taken from the adjusted trial balance of Avoca Auto Corp. at December 31, 2020, its annual year-end. Sales revenue 5780,000 Cost of goods sold 330.000 Operating expenses 240,000 Gainon debt retirement 60,000 interest expense 24.000 Loss from discontinued operations 150.000 Retained earnings balance, December 31, 2019 90.000 Dividends declared and paid 75,000 Unrealized holding gain on debt investment securities, net of tax 12,000 Common stock, weighted average shares outstanding 30.000 shares Required a. Prepare a single-step income statement. Assume an average 25% tax rate on all items. Include earnings per share disclosures. b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income ignore earnings per share disclosures c. Compute the ending retained earnings balance at December 31, 2020 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 answers for per share amounts in dollars and cents, rounded to the nearest penny. 2. Prepare a single-step income statement Assume an average 25% tax rate on all items include earnings per share disclosures b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income, Ignore earnings per share disclosures c Compute the ending retained earnings balance at December 31, 2020 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 answers for per share amounts in dollars and cents, rounded to the nearest penny, Single-step Income Statement Statement of comprehensive Income Retained Earnings Balance a. Prepare a single step income statement. Assume an average 254 tax rate on all items, Include earnings per share disclosures. Avoca Auto Corp Income Statement For the Year Ended December 31, 2020 4+ 5 0 0 Total revenues and gains 0 . . Total expenses and losses : . 0 0 Income from continuing operations 1 . 3 0 Per share 1 0 We arest penny. Single-step Income Statement Statement of Comprehensive Income Retained Earnings Balance b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income, ignore caminet per share disclosures Aveca Auto Corp. Income Statement For the Year Ended December 31, 2020 $ 0 0 . Total revenues and gains 0 0 0 O Total expenses and losses D : O Income from continuing operations D 0 0 $ Avoca Auto Corp. Comprehensive Income Statement For the Year Ended December 31, 2020 0 0 SPM required a. Prepare a single-step income statement. Assume an average 25% tax rate on all items include earnings per share disclosures. b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income. Ignore earnings per she discosure c.Compute the ending retained earnings balance at December 31, 2020 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 answers for per share amounts in dollars and cents, rounded to the nearest penny, Single-step Income Statement Statement of Comprehensive Income Retained Earnings Balance cCompute the ending retained earnings balance at December 31, 2020.5 0 Check