Question
The following information was taken from the records of Cheyenne Inc. for the year 2017: Income tax applicable to income from continuing operations $177,616; income
The following information was taken from the records of Cheyenne Inc. for the year 2017: Income tax applicable to income from continuing operations $177,616; income tax applicable to loss on discontinued operations $28,866, and unrealized holding gain on available-for-sale securities (net of tax) $22,100. Gain on sale of equipment $99,000 Cash dividends declared $152,500 Loss on discontinued operations 84,900 Retained earnings January 1, 2017 554,900 Administrative expenses 244,000 Cost of goods sold 770,600 Rent revenue 49,300 Selling expenses 292,100 Loss on write-down of inventory 66,200 Sales Revenue 1,747,000 Shares outstanding during 2017 were 93,500.
I've posted the question twice and have not received an answer that follows the questions guidelines before. If these could be followed it would be of much help!
Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) CHEYENNE INC. Income Statement For the Year Ended December 31, 2017 P %
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