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The following information is available for Larkspur, Inc. for the year 2017. Administrative expense Officers' salaries $ 11,700 Depreciation of office furniture and equipment 8,050
The following information is available for Larkspur, Inc. for the year 2017.
Administrative expense | ||
Officers' salaries | $ 11,700 | |
Depreciation of office furniture and equipment | 8,050 | |
Cost of goods sold | 121,480 | |
Rent revenue | 2,400 | |
Selling expense | ||
Delivery expense | 4,600 | |
Sales commissions | 16,920 | |
Depreciation of sales equipment | 13,500 | |
Sales revenue | 209,000 | |
Income tax | 12,560 | |
Interest expense | 3,240 |
Common shares outstanding for 2017 total 23,000 (000 omitted).
Prepare an income statement for Larkspur Inc. for the year 2017 using the multiple-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.) LARKSPUR COMPANY Income Statement For the Year Ended December 31, 2017 (In thousands, except earnings per share) Sales Revenue Cost of Goods Sold Gross Profit/(Loss) Operating Expenses v Selling Expenses Delivery Expense $ Sales Commission Total Selling Expenses Prepare an income statement for Larkspur Inc. for the year 2017 using the multiple-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.) LARKSPUR COMPANY Income Statement For the Year Ended December 31, 2017 (In thousands, except earnings per share) $ Total Administrative Expenses Income From Operations - Income Tax Expense II II cuteStep by Step Solution
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