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The following incorrect income statement was prepared by the accountant of the Anel Corporation AXEL CORPORATION Incon Statement For the Year Ended December 31, 2021
The following incorrect income statement was prepared by the accountant of the Anel Corporation AXEL CORPORATION Incon Statement For the Year Ended December 31, 2021 Revenues and gains Sales revenue $750,000 Interest revenue 48.000 Gain on sale of investments 95,000 Total revenues and gains 393,000 Expenses and losses: Cost of goods sold 5405,000 Selling expense 75,000 Adsinistrative expense 95,000 Interest expense 32.000 Restructuring costs 71.000 Income tax expense 53,750 Total expenses and losses 731.750 Not Income $161.250 Earnings per share Required: Prepare a multiple step income statement for 2021 applying generally accepted accounting principles. The incom (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) The following incorrect income statement was prepared by the accountant of the Anel Corporation AXEL CORPORATION Incon Statement For the Year Ended December 31, 2021 Revenues and gains Sales revenue $750,000 Interest revenue 48.000 Gain on sale of investments 95,000 Total revenues and gains 393,000 Expenses and losses: Cost of goods sold 5405,000 Selling expense 75,000 Adsinistrative expense 95,000 Interest expense 32.000 Restructuring costs 71.000 Income tax expense 53,750 Total expenses and losses 731.750 Not Income $161.250 Earnings per share Required: Prepare a multiple step income statement for 2021 applying generally accepted accounting principles. The incom (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)
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