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The accounts and numbers in the income statement below are all correct so far The income statement for Weatherford International Inc's year ended December 31,
The accounts and numbers in the income statement below are all correct so far
The income statement for Weatherford International Inc's year ended December 31, 2023, was prepared by an inexperienced bookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are before tax (assume a rate of 40\%). The company had 117,000 common shares issued and outstanding throughout the year, as well as 23,400 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31,2022 , were $337,300. Required: Prepare a corrected income statement, including earnings per share information. (Negotive answers should be indicated by a minus sign in the other revenues and expenses section and the discontinued operations section. Round the "Earnings per Share" onswers to 2 decimal ploces.) pnswers to 2 decimal places.)Step by Step Solution
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