Question
The following information is related to Bramble Company for 2025. Retained earnings balance, January 1, 2025 $1,136,800 Sales revenue 29,000,000 Cost of goods sold 18,560,000
The following information is related to Bramble Company for 2025.
Retained earnings balance, January 1, 2025 | $1,136,800 | |
Sales revenue | 29,000,000 | |
Cost of goods sold | 18,560,000 | |
Interest revenue | 81,200 | |
Selling and administrative expenses | 5,452,000 | |
Write-off of goodwill | 951,200 | |
Income taxes for 2025 | 1,443,040 | |
Gain on the sale of investments | 127,600 | |
Loss due to flood damage | 452,400 | |
Loss on the disposition of the wholesale division (net of tax) | 510,400 | |
Loss on operations of the wholesale division (net of tax) | 104,400 | |
Dividends declared on common stock | 290,000 | |
Dividends declared on preferred stock | 92,800 |
Bramble Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Bramble sold the wholesale operations to Rogers Company. During 2025, there were500,000shares of common stock outstanding all year.
(a1)
make a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List other revenues and gains before other Expenses and losses.)
BRAMBLE COMPANY Income Statement choose the accounting period December 31, 2025For the Quarter Ended December 31, 2025For the Year Ended December 31, 2025 | ||
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select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | $enter a dollar amount | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleIncome TaxInterest RevenueSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
select a summarizing line for the first part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a total amount for the first part | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
select a summarizing line for the second part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a total amount for the second part | |
select an opening name for section one Discontinued OperationsEarnings Per ShareExpensesGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Revenues and Gains | ||
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | $enter a dollar amount | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select an opening name for section two Discontinued OperationsEarnings Per ShareExpensesGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and Losses | ||
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss on Disposal, Net of TaxLoss from Flood DamageLoss on Operations, Net of TaxSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select a summarizing line for the third part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a total amount for the third part | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
select a summarizing line for the fourth part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a total amount for the fouth part | |
select an opening name for section three Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | ||
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select a closing name for this statement Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | $enter a total net income or loss amount | |
select an opening name for additional section Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains: | ||
select an income statement item Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | $enter a dollar amount rounded to 2 decimal places | |
select an opening subsection name Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | ||
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operations of Discontinued DivisionLoss on Disposal of Discontinued DivisionSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | $enter a dollar amount rounded to 2 decimal places | |
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operations of Discontinued DivisionLoss on Disposal of Discontinued DivisionSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill | enter a dollar amount rounded to 2 decimal places | |
enter a subtotal of the two previous amounts rounded to 2 decimal places | ||
select a closing name for additional section Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains | $enter a total amount for additional section rounded to 2 decimal places |
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