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The following information is related to Nash Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue $901,600 23,000,000 Cost of goods sold
The following information is related to Nash Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue $901,600 23,000,000 Cost of goods sold 14,720,000 Interest revenue 64,400 Selling and administrative expenses 4,324,000 Write-off of goodwill 754,400 Income taxes for 2025 1,144,480 Gain on the sale of investments 101,200 Loss due to flood damage 358,800 Loss on the disposition of the wholesale division (net of tax) 404,800 Loss on operations of the wholesale division (net of tax) 82,800 Dividends declared on common stock 230,000 Dividends declared on preferred stock 73,600 Nash Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and manufacturing operations. On September 15, Nash sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year. (a1) Your answer is partially correct. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, eg. 1.49. List other revenues and gains before other Expenses and losses.) NASH COMPANY Income Statement For the Year Ended December 31, 2025 Sales Revenue Cost of Goods Sold Gross Profit/(Loss) 23000000 14720000 i 8280000 4224000 Selling and Administrative Expenses Income from Operations Other Revenues and Gains Interest Revenue 64400 Gain on the Sale of Investments 101200 Other Expenses and Losses Write-off of Goodwill 754400 Loss from Flood Damage 358800 Income before Income Tax Income Tax A 4324000 3956000 165600 1113200 2677200 1144480 I Income from Continuing Operations Discontinued Operations Loss on Disposal of Wholesale 82800 Loss from Operation of Wholesale Division 404800 Net Income/(Loss) Earnings Per Share Income from Continuing Operations Discontinued Operations Loss on Disposal of Discontinued Division Loss from Operations of Discontinued Division dtv 1532720 487600 i 1045120 B
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