Question 6 of 6 1.44/33 View Policies Show Attempt History Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 $1,038,800 Sales Revenue 26,500,000 Cost of goods sold 16,960,000 Interest revenue 74,200 Selling and administrative expenses 4,982,000 Write-off of goodwill 869,200 Income taxes for 2020 1,318,640 Gain on the sale of investments 116,600 Loss due to flood damage 413,400 Loss on the disposition of the wholesale division (net of tax) 466,400 Loss on operations of the wholesale division (net of tax) 95,400 Dividends declared on common stock 265,000 Dividends declared on preferred stock 84,800 Bonita Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Bonita sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year. Question 6 of 6 1.44/3 (a1) Your answer is partially correct. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, es 1.49.) BONITA COMPANY Income Statement For the Year Ended December 31, 2020 Sales Revenue 26500000 Cost of Goods Sold 16960000 Gross Profit/(Loss) 9540000 Selling and Administrative Expenses 4982000 Income from Operations 4558000 Other Revenues and Gains Interest Revenue $ 74200 Gain on the sale of investments 116600 190800 Other Expenses and Losses Question 6 of 6 > 1.44/3 ill 190800 Other Expenses and Losses Write-off of Goodwill 869.200 Loss from Flood Damage 413,400 1282600 Income from Continuing Operations Before Income Tax 3466200 Income Tax 1318640 i Income from Continuing Operations 2147560 Discontinued Operations Loss on Operations. Net of Applicable Tax 95000 Loss on Disposal Net of Applicable Tax 466-400 561800 i Net Income /(Loss) $ 1585760 Earnings Per Share Income from Continuing Operations S 4.30 Discontinued Operations Question 6 of 6 1.44/3 111 Loss on Operations Netor Applicable Tax 95400 Loss on Disposal. Net of Applicable Tax 466400 561800 Net Income /(Loss) $ 1585760 Earnings Per Share Income from Continuing Operations 430 Discontinued Operations Loss on Operations. Net of Applicable Tax $ 0.19 Loss on Disposal. Net of Applicable Tax 0.93 112 Net Income /(Loss) $ 318 eTextbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit