Question
The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following income accounts: Account Title Debits Credits
The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following income accounts:
Account Title Debits Credits
Sales revenue 2,300,000(CREDIT)
Cost of goods sold 1,400,000(DEBIT)
Selling and administrative expenses 420,000(DEBIT)
Interest expense 40,000(DEBIT)
Unrealized holding gains on investment securities 80,000(CREDIT)
The trial balance does not include the accrual for income taxes. Lindors income tax rate is 30%. One million shares of common stock were outstanding throughout 2016.
Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2016, including appropriate EPS disclosures.
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