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The following selected items are taken from the accounting records of Amick Corp. at December 31. Sales revenue $950,000 Cost of goods sold 575,000 Dividends
The following selected items are taken from the accounting records of Amick Corp. at December 31. Sales revenue $950,000 Cost of goods sold 575,000 Dividends received on investment in stocks 6,500 Interest expense 4,200 Loss on sale of investments 48,000 Promotion expense 15,000 Shipping expense 25,000 Depreciation (50% selling, 50% general and administrative) 20,000 Salaries (general and administrative) 80,000 Other general and administrative expenses 23,000 Salaries (selling) 85,300 Interest revenue 2,500 Income tax rate 25% Number of common stock shares 20,000 part a. part b. a. Prepare a single-step income statement (including earnings per share). Include income taxes in its own section. Note: Use a negative sign only for an expense or loss item includ
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