See attachment for more detail on assignment.

Brief Exercise 4-2

Indigo Corporation had net sales of $2,410,700and interest revenue of $40,600during 2017. Expenses for 2017 were cost of goods sold $1,458,400, administrative expenses $219,700, selling expenses $285,300, and interest expense $49,100. Indigo's tax rate is30%. The corporation had109,000shares of common stock authorized and73,880shares issued and outstanding during 2017. Prepare a single-step income statement for the year ended December 31, 2017.(Round earnings per share to 2 decimal places, e.g. 1.48.)

INDIGO CORPORATION

Income Statement

INDIGO CORPORATION

Income Statement

December 31, 2017

For the Year Ended December 31, 2017

For the Quarter Ended December 31, 2017

Dividends

Earnings Per Share

Expenses

Net Income / (Loss)

Retained Earnings, January 1

Retained Earnings, December 31

Revenues

Total Expenses

Total Revenues

Net Sales

$

Dividends

Earnings Per Share

Expenses

Net Income / (Loss)

Retained Earnings, January 1

Retained Earnings, December 31

Revenues

Total Expenses

Total Revenues

Net Sales

Dividends

Earnings Per Share

Expenses

Net Income / (Loss)

Retained Earnings, January 1

Retained Earnings, December 31

Revenues

Total Expenses

Total Revenues

Net Sales

Dividends

Earnings Per Share

Expenses

Net Income / (Loss)

Retained Earnings, January 1

Retained Earnings, December 31

Revenues

Total Expenses

Total Revenues

Net Sales

Dividends

Earnings Per Share

Expenses

Net Income / (Loss)

Retained Earnings, January 1

Retained Earnings, December 31

Revenues

Total Expenses

Total Revenues

Net Sales

$

Dividends

Earnings Per Share

Expenses

Net Income / (Loss)

Retained Earnings, January 1

Retained Earnings, December 31

Revenues

Total Expenses

Total Revenues

Net Sales

$

Brief Exercise 4-2 Indigo Corporation had net sales of $2,410,700 and interest revenue of $40,600 during 2017. Expenses for 2017 were cost of goods sold $1,458,400, administrative expenses $219,700, selling expenses $285,300, and interest expense $49,100. Indigo's tax rate is 30%. The corporation had 109,000 shares of common stock authorized and 73,880 shares issued and outstanding during 2017. Prepare a singlestep income statement for the year ended December 31, 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)