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Required Information [The following information applies to the questions displayed below] Jordan Sales Company (organized as a corporation on April 1, 2017) has completed the
Required Information [The following information applies to the questions displayed below] Jordan Sales Company (organized as a corporation on April 1, 2017) has completed the accounting cycle for the second yesr, ended March 31, 2019. Jorden also has completed a correct trial balance as follows: JORDAN SALES COMPANY Trial Balance At March 31, 2019 Account Titles Debit Credit Cash $ 58.400 Accounts receivable 49,702 office supplies inventory 1,300 Automobiles (company cars) 34,700 Accumulated depreciation, automobiles $ 13,109 office equipment 3,602 Accumulated depreciation, office equipment sea Accounts payable 21,200 Income taxes payable Salaries and commissions payable 1,400 Note payable, long-term 32,400 Capital stock (par $1; 32,180 shares) 32,188 Paid in capital 4,200 Retained carnings (on April 1, 2018) 7,180 Dividends declared and paid during the current year 10,500 Sales revenue 186,289 Cost of goods sold 32. HOD Operating expenses (detail omitted to conserve time) 18,00 Depreciation expense (an autos and including $600 on office equipment) 7,600 Interest expense 1.lee Income tax expense (not yet computed) Totals $219,5ea $ 218, see Required: Complete the financial statements as follows: a. Classified (multiple-step) income statement for the reporting year ended March 31, 2019. Include income tax expense, assuming a 25 percent tax rate. (Round your "Earnings per share" to 2 decimal places.) JORDAN SALES COMPANY Income Statement Operating expenses Total operating expenses Earnings per share
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