The following selected information is taken from the records of Pickard and Associates. 1. Prepare an income

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The following selected information is taken from the records of Pickard and Associates.

Accounts payable Accounts receivable Advertising expense Income taxes (30% of income before taxes). Miscellaneous expens

1. Prepare an income statement for the year ended December 31, 2012. (Assume that 11,000 shares of stock are outstanding.)
2. Explain what the EPS ratio tells the reader about Pickard andAssociates.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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