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Smart LO1,4 Exercise 3-35 Preparing a Singe Step and a Mundi Step Income Statement L01,4 ng revenue. HHHHHHHHHHV Nga Tin The following selected items are

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Smart LO1,4 Exercise 3-35 Preparing a Singe Step and a Mundi Step Income Statement L01,4 ng revenue. HHHHHHHHHHV Nga Tin The following selected items are taken from the adjusted trial balance of Amick Corp. at December 31, 2020. Sales revenue. Cost of goods sold .. $950.000 Dividends received on investment in stocks. 575.000 Interest expense.... 6,500 Loss on sale of investments. 4,200 Promotion expense. 48.000 15,000 Shipping expense. 25,000 Depreciation (50% selling, 50% general and administrative) 20.000 Salaries (general and administrative) 80,000 Other general and administrative expenses. 23,000 Salaries (selling) 85,300 Interest revenue 2,500 Income tax rate. 25% Common stock 20.000 shares Required a. Prepare a single-step income statement (including earnings per share). Include income taxes in its own section. b. Prepare a multiple-step income statement (including earnings per share)

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