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The following is the trial balance of Oriole Corporation at December 31, 2025. ORIOLE CORPORATION TRIAL BALANCE DECEMBER 31, 2025 Debits Credits Purchase Discounts $27,000
The following is the trial balance of Oriole Corporation at December 31, 2025. ORIOLE CORPORATION TRIAL BALANCE DECEMBER 31, 2025 Debits Credits Purchase Discounts $27,000 Cash $512,190 Accounts Receivable 283,500 Rent Revenue 48,600 Retained Earnings 432,000 Salaries and Wages Payable 48,600 Sales Revenue 2,970,000 Notes Receivable 297,000 Accounts Payable 132,300 Accumulated Depreciation-Equipment 75,600 Sales Discounts 39,150 Sales Returns and Allowances 47,250 Notes Payable 189,000 Selling Expenses 626,400 Administrative Expenses 267,300 Common Stock 810,000 Income Tax Expense 145,530 A physical count of inventory on December 31 resulted in an inventory amount of $172,800; thus, cost of goods sold for 2025 is $1,741,500. Prepare a single-step income statement. 30,000 shares of common stock were cutstanding the entire year. (Round eamings per share to 2 decimal places, eg. 1.48.) ORIOLE CORPORATION Income Statement $ s
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