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Presented below is information related to Splish Corp. for the year 2020. Net sales $1,638,000 Write-off of inventory due to obsolescence $100.800 Cost of goods
Presented below is information related to Splish Corp. for the year 2020. Net sales $1,638,000 Write-off of inventory due to obsolescence $100.800 Cost of goods sold 982,800 Depreciation expense omitted by accident in 2019 69,300 Selling expenses 81,900 Casualty loss 63.000 Administrative expenses 60.480 Cash dividends declared 56,700 Dividend revenue 25,200 Retained earnings at December 31, 2019 1,234,800 Interest revenue 8.820 Effective tax rate of20% on all items Prepare a multiple-step income statement for 2020. Assume that95,760shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.) SPLISH CORP. Income Statement $
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