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New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.
The following information is available for Marigold Corp. for the year ended December 31, 2022:
Other revenues and gains | $11,900 | Sales revenue | $628,000 | |||
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Other expenses and losses | 14,400 | Operating expenses | 250,000 | |||
Cost of goods sold | 243,100 | Sales returns and allowances | 40,000 | |||
Other comprehensive income | 5,300 |
Prepare a multiple-step income statement for Marigold Corp. and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income.
Marigold Corp. Income Statement choose the accounting period For the Year Ended December 31, 2022December 31, 2022For the Month Ended December 31, 2022 | ||||
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select an opening name for section one Other Revenues and GainsNet Income / (Loss)Operating ExpensesTotal ExpensesTotal RevenuesExpensesRetained Earnings, December 31Comprehensive Income / (Loss)RevenuesIncome before Income TaxesGross ProfitNet SalesOther Expenses and LossesRetained Earnings, January 1Other Comprehensive Income / (Loss)Income From OperationsSalesDividends | ||||
enter an income statement item | $enter a dollar amount | |||
select between addition and deduction LessAdd: enter an income statement item | enter a dollar amount | |||
select a closing name for section one DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains | $enter a total amount for section one | |||
enter an income statement item | enter a dollar amount | |||
select a summarizing line for the first part DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a total amount for the first part | |||
select an income statement item DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a dollar amount | |||
select the summarizing line for the second part DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses | enter a total amount for the second part | |||
select an income statement item DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses | enter a dollar amount | |||
select an income statement item DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses | enter a dollar amount | |||
enter a subtotal of the two previous amounts | ||||
select a summarizing line for the third part DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains | enter a total amount for all three parts | |||
enter an income statement item | enter a dollar amount | |||
select a closing name for this statement DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses | $enter a total net income or loss amount |
Marigold Corp. Comprehensive Income Statement choose the accounting period For the Month Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022 | ||
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select a comprehensive income item Total RevenuesOther Comprehensive Income / (Loss)Net Income / (Loss)DividendsExpensesNet SalesIncome before Income TaxesTotal ExpensesIncome From OperationsRetained Earnings, December 31Retained Earnings, January 1RevenuesOperating ExpensesSalesGross ProfitComprehensive Income / (Loss) | $enter a dollar amount | |
select a comprehensive income item RevenuesSalesNet Income / (Loss)Operating ExpensesTotal RevenuesComprehensive Income / (Loss)Gross ProfitExpensesOther Comprehensive Income / (Loss)Income From OperationsIncome before Income TaxesNet SalesRetained Earnings, January 1DividendsTotal ExpensesRetained Earnings, December 31 | enter a dollar amount | |
select a closing name for this statement Net Income / (Loss)Total RevenuesOperating ExpensesIncome From OperationsDividendsExpensesIncome before Income TaxesRetained Earnings, January 1Retained Earnings, December 31SalesGross ProfitOther Comprehensive Income / (Loss)Total ExpensesNet SalesComprehensive Income / (Loss)Revenues | $enter a total amount for this statement |
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