View Policies Current Attempt in Progress The following balances were taken from the books of Vaughn 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 $87,700 52,700 1,381,700 151,700 21,700 151,700 8,700 46,700 101.700 201.700 141.700 622,700 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 $41,700 29,700 156,700 195.700 171.700 101.700 98.700 33.700 61,700 101.700 151,700 501,700 22.700 Assume the total effective tax rate on all items is 20% Question 1 of 13 -/1 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, eg. 148.) VAUGHN CORP. Income Statement For the Year Ended December 31, 2020 Sales $ Question 1 of 13 > Question 1 of 13 - 71 Per share of common stock: View Policies Current Attempt in Progress The following balances were taken from the books of Vaughn 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 $87,700 52,700 1,381,700 151,700 21,700 151,700 8,700 46,700 101.700 201.700 141.700 622,700 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 $41,700 29,700 156,700 195.700 171.700 101.700 98.700 33.700 61,700 101.700 151,700 501,700 22.700 Assume the total effective tax rate on all items is 20% Question 1 of 13 -/1 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, eg. 148.) VAUGHN CORP. Income Statement For the Year Ended December 31, 2020 Sales $ Question 1 of 13 > Question 1 of 13 - 71 Per share of common stock