The trial balance of Rollins Incorporated included the following accounts as of December 31, 2024: Sales...
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The trial balance of Rollins Incorporated included the following accounts as of December 31, 2024: Sales revenue Interest revenue Debits Credits Loss on sale of investments $ 20,000 Loss on debt investments Gain on projected benefit obligation Cost of goods sold Selling expense Restructuring costs Interest expense 145,000 4,310,000 390,000 175,000 10,000 General and administrative expense 290,000 $5,800,000 39,500 255,000 The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required: Prepare a 2024 income statement for Rollins Incorporated with earnings per share disclosure. The trial balance of Rollins Incorporated included the following accounts as of December 31, 2024: Sales revenue Interest revenue Debits Credits Loss on sale of investments $ 20,000 Loss on debt investments Gain on projected benefit obligation Cost of goods sold Selling expense Restructuring costs Interest expense 145,000 4,310,000 390,000 175,000 10,000 General and administrative expense 290,000 $5,800,000 39,500 255,000 The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required: Prepare a 2024 income statement for Rollins Incorporated with earnings per share disclosure.
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