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The question is complete!!! ***NOTE: all the blanks that are not in green are not yet solved*** The following balances were taken from the books

The question is complete!!!

***NOTE: all the blanks that are not in green are not yet solved***

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The following balances were taken from the books of Oriole Corp. on December 31, 2020. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87,950 52,950 1,381,950 151,950 21,950 151,950 8,950 46,950 101,950 201,950 141,950 622,950 Accumulated depreciation equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) ORIOLE CORP. Income Statement For the Year Ended December 31, 2020 Sales Sales Revenue $ 1,381,950 Less : Sales Discounts $ 46.950 Sales Returns and Allowances 151,950 i 198900 i Net Sales 1183050 Cost of Goods Sold 250) i Gross Profit/(Loss) 560100 Operating Expenses Selling Expenses 195950 i Administrative Expenses 98950 i 294900 i Income From Operations 265200 Other Revenues and Gains Interest Revenue 87950 (125950) Other Expenses and Losses Loss from Earthquake Damage 151950 i Interest Expense 61950 i Income Before Income Tax 139250 Income tax (47345) Net Income /(Loss) 91905 Per share of common stock: Earnings Per Common Share $ 0.92

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