The following information was taken from the records of Coronado Inc for the year 2020 Income tax applicable to income from continuing operations $190,740 income tax applicable to loss on discontinued operations $26,010, and unrealized holding gain on available for sale securities (net of tax) $15,300 Gain on sale of equipment $96,900 Cash dividends declared $153,000 Loss on discontinued operations 76,500 Retained earnings January 1, 2020 1,800,000 Administrative expenses 244,800 Cost of goods sold 867,000 Rent revenue 40,800 Selling expenses 306,000 Loss on write down of inventory 61,200 Sales Revenue 1,938,000 Shares outstanding during 2020 were 100,000 Prepare a multiple step income statement (Round earnings per share to 2 decimal places, e g 1 48 ) CORONADO INC Income Statement Prepare a comprehensive income statement for 2020, using the two statement format CORONADO INC Comprehensive Income Statement e Textbook and Media List of Accounts Prepare a retained earnings statement for 2020 (List items that increase retained earnings first ) CORONADO INC Retained Earnings Statement

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Posted on Sep 14, 2024

The following information was taken from the records of Coronado Inc. for the year 2020: Income tax applicable to income from continuing operations $190,740; income

The following information was taken from the records of Coronado Inc. for the year 2020: Income tax applicable to income from continuing operations $190,740; income tax applicable to loss on discontinued operations $26,010, and unrealized holding gain on available-for-sale securities (net of tax) $15,300.

Gain on sale of equipment	$96,900	Cash dividends declared	$153,000
Loss on discontinued operations	76,500	Retained earnings January 1, 2020	1,800,000
Administrative expenses	244,800	Cost of goods sold	867,000
Rent revenue	40,800	Selling expenses	306,000
Loss on write-down of inventory	61,200	Sales Revenue	1,938,000

Shares outstanding during 2020 were 100,000.

Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.)

CORONADO INC. Income Statement Prepare a comprehensive income statement for 2020, using the two statement format. CORONADO INC. Comprehensive Income Statement e Textbook and Media List of Accounts Prepare a retained earnings statement for 2020. (List items that increase retained earnings first.) CORONADO INC. Retained Earnings Statement