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The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following accounts: Account Title Sales revenue
The trial balance for Lindor Corporation, a manufacturing company, for the year ended 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 2,300,000 1,400,000 420,000 40,000 80,000 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 1,000,000 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.) LINDOR CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Operating expenses: 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 Income tax expense Net income Other comprehensive income (net of tax) Gain on Debt Securities Comprehensive income Earnings per share: $ 2,300,000 (1,400,000) 900,000 420,000 480,000 40,000 0 80,000 $ 80,000
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