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Question 9 Concord Corporation had net sales revenue of $5,870,000 and investment revenue of $228,000 for the year ended December 31, 2020. Other items pertaining
Question 9 Concord Corporation had net sales revenue of $5,870,000 and investment revenue of $228,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: Cost of goods sold $4,635,000 Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses 367,000 128,000 75,000 570,000 Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses 308,000 109,000 42,000 459,000 Increase in value of company reputation Unrealized gain on value of patents Interest expense Income tax expense 72,000 37,000 152,000 81,000 Concord has 100,000 common shares outstanding throughout the year. Prepare a single-step income statement showing expenses by nature. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.72.) Prepare a single-step income statement showing expenses by nature. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.72.) Concord Corporation Income Statement
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