Intermediate Accounting: E4-6 The following balances were taken from the books of Maria

Intermediate Accounting
E4-6 Multiple-step and extraordinary Items
The following balances were taken from the books of Maria Conchita Alonzo Corp. on December 31, 2014:
Interest revenue 86,000 Accumulated depreciation-buildings 28,000
Cash 51,000 Notes receivable 155,000
Sales revenue 1,380,000 Selling expenses 194,000
Accounts receivable 150,000 Accounts payable 170,000
Prepaid insurance 20,000 Bonds payable 100,000
Sales returns and allowances 150,000 Administrative and general expenses 97,000
Allowance for doubtful accounts 7,000 Accrued liabilities 32,000
Sales discounts 45,000 Interest expense 60,000
Land 100,000 Notes payable 100,000
Equipment 200,000 Loss from earthquake damage 150,000
Buildings 140,000 Common stock 500,000
Cost of goods sold 621,000 Retained earnings 21,000
Accumulated depreciation-equipment 40,000

Assume the total effective tax rate on all items is 34%.

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, e.g. 1.48.)
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