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The following balances were taken from the books of Coronado Corp. on December 31, 2020. Interest revenue $87,550 Accumulated depreciation-equipment $41,550 Cash 52,550 Accumulated depreciation-buildings
The following balances were taken from the books of Coronado Corp. on December 31, 2020. Interest revenue $87,550 Accumulated depreciation-equipment $41,550 Cash 52,550 Accumulated depreciation-buildings 29,550 Sales revenue 1,381,550 Notes receivable 156,550 Accounts receivable 151,550 Selling expenses 195,550 Prepaid insurance 21,550 Accounts payable 171,550 Sales returns and allowances 151,550 Bonds payable 101,550 Allowance for doubtful accounts 8,550 Administrative and general expenses 98,550 Sales discounts 46,550 Accrued liabilities 33,550 Land 101,550 Interest expense 61,550 Equipment 201,550 Notes payable 101,550 Buildings 141,550 Loss from earthquake damage 151,550 Cost of goods sold 622,550 Common stock 501,550 Retained earnings 22,550 Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) CORONADO CORP. Income Statement $ Per share of common stock: $
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