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XYZ Company has the following income statement items for the year ended December 31, 2018. Prepare a multi-step comprehensive income statement for XYZ Company (remember
XYZ Company has the following income statement items for the year ended December 31, 2018. Prepare a multi-step comprehensive income statement for XYZ Company (remember to provide headings for subtotals)
- Revenues from selling office products (60% of total revenues)
- Selling, general, and administrative expenses
- Revenues from renting office space (40% of total revenues)
- Loss from litigation settlement with a former employee
- Write-off of goodwill
- Foreign currency translation adjustment
- Loss on the disposition of a wholesale division (net of tax)
- Sales return and discount
- Unrealized gains on available-for-sale securities
- Realized gains on available-for-sale securities
- Cost of goods sold
- Interest revenues
- Loss associated with pension that are not recognized yet
- Loss suffered during a hurricane. This was the first hurricane ever to strike this area
- Income tax expense
- Cost of renting
- Inventory write-down due to obsoleteness
Prepare a multi-step comprehensive income statement for XYZ Company (remember to provide headings for subtotals)
hello,
the amounts do not matter. i just need to know the headings and what order/catagory
1. Revenues from selling office products (60% of total revenues) $100,000
2. Selling, general, and administrative expenses $20,000
3 Revenues from renting office space (40% of total revenues) $50,000
4. Loss from litigation settlement with a former employee $20,000
5. Write-off of goodwill $10,000
6. Foreign currency translation adjustment $5,000
7. Loss on the disposition of a wholesale division (net of tax) $7,000
8. Sales return and discount $10,000
9. Unrealized gains on available-for-sale securities $20,000
10. Realized gains on available-for-sale securities $20,000
11. Cost of goods sold $75,000
12. Interest revenues $25,000
13. Loss associated with pension that are not recognized yet $10,000
14. Loss suffered during a hurricane. This was the first hurricane ever to strike this area $35,000
15. Income tax expense $1000
16. Cost of renting $5,000
17. Inventory write-down due to obsoleteness $7,500
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