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Presented below is information related to Metlock Corp. for the year 2025. Net sales $1,274,000 Write-off of inventory due to obsolescence $78,400 Cost of
Presented below is information related to Metlock Corp. for the year 2025. Net sales $1,274,000 Write-off of inventory due to obsolescence $78,400 Cost of goods sold 764,400 Depreciation expense omitted by accident in 2024 53,900 Selling expenses 63,700. Casualty loss 49,000 Administrative expenses 47,040 Cash dividends declared 44,100 Dividend revenue 19,600 Interest revenue 6,860 Retained earnings at December 31, 2024 Effective tax rate of 20% on all items 960,400 (a) Prepare a multiple-step income statement for 2025. Assume that 59,584 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, eg. 1.49.) Activar Windo
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