Question
The trial balance for December 31, 2021, included the following accounts: Account Title Sales revenue Cost of goods sold Selling and administrative expense Interest
The trial balance for December 31, 2021, included the following accounts: Account Title Sales revenue Cost of goods sold Selling and administrative expense Interest expense Gain on debt securities Debits Credits 2,380,000 1,430,000 417,000 43,000 83,000 The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 25%. There were 1,300,000 shares of common stock outstanding throughout 2021. Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2021, including appropriate EPS disclosures. (Round EPS answer to 2 decimal places.) Sales revenue Cost of goods sold Gross profit Operating expenses Answer is not complete. LINDOR CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2021 Selling and administrative expense Operating income Other income (expense) Interest expense Income before income taxes. Gain on debt securities. Net income Other comprehensive income (net of tax) Income tax expense Comprehensive income Earnings per share: 2,380,000 (1,430,000) 950,000 (417,000) 533,000 (43,000) 83,000 83,000 0 (122,500) $ (122,500)
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