in the middle of a final, due in one hour
(TCO C) Presented below is information related to Square Company.
Retained earnings, December 31, 20X2
|
$2,750,000
|
Sales
|
2,000,000
|
Selling and administrative expenses
|
240,000
|
Hurricane loss (pre-tax) on plant (extraordinary item)
|
250,000
|
Cash dividends declared on common stock
|
33,600
|
Cost of goods sold
|
960,000
|
Gain resulting from computation error on depreciation charge in 20X1 (pre-tax)
|
2,000,000
|
Other revenue
|
80,000
|
Other expenses
|
50,000
|
Instructions: Prepare in good form a multiple-step income statement for the year 2011. Assume a 30% tax rate and that 100,000 shares of common stock were outstanding during the year
"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!":
Get startedSave your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper Now