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Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014. Cash $59,500 Administrative expenses 107,200 Selling expenses 82,100 Net sales 555,600
Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014.
Cash | $59,500 | |
Administrative expenses | 107,200 | |
Selling expenses | 82,100 | |
Net sales | 555,600 | |
Cost of goods sold | 263,900 | |
Cash dividends declared (2014) | 23,900 | |
Cash dividends paid (2014) | 16,000 | |
Discontinued operations (loss before income taxes) | 48,300 | |
Depreciation expense, not recorded in 2013 | 30,800 | |
Retained earnings, December 31, 2013 | 92,700 | |
Effective tax rate 30% Net income= Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 19,900 shares of common stock were outstanding during 2014.
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