1. The Fort Stockton Furniture Co. has the following financial data. Prepare an income statement in good accounting order and compute earnings per share. $1,300,000 $ 70,000 $ 300,000 S 800,000 S 140,000 Sales Depreciation expense Debt (11% interest rate) Cost of goods sold Selling and administrative expense Shares outstanding Таxes Preferred stock dividends 60,000 75,000 5,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. The Fort Stockton Furniture Co. has the following financial data. Prepare an income
statement in good accounting order and compute earnings per share.
Sales
Depreciation expense
Debt (11% interest rate)
Cost of goods sold
Selling and administrative expense
Shares outstanding
$1,300,000
$ 70,000
$ 300,000
S 800,000
$ 140,000
60,000
Тахes
2$
75,000
Preferred stock dividends
2$
5,000
Transcribed Image Text:1. The Fort Stockton Furniture Co. has the following financial data. Prepare an income statement in good accounting order and compute earnings per share. Sales Depreciation expense Debt (11% interest rate) Cost of goods sold Selling and administrative expense Shares outstanding $1,300,000 $ 70,000 $ 300,000 S 800,000 $ 140,000 60,000 Тахes 2$ 75,000 Preferred stock dividends 2$ 5,000
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