Need help with the earnings per share of common stock. O InboxM7: MBC Problems Ch. 13+ Chapter 13 Template - Google Sh x +A mybusinesscourse.com/platform/mod/quiz/attempt.php?attempt=4077346&cmid=233735&scrollpos=710#q1QBusinessCourse* Return to course: My SubscriptionsO Leandrea ShrumEarnings per Share and Multiple-Step Income StatementThe following summarized data relate to Bowden Corporation's current operations:Sales revenue$1,043,000Cost of goods sold630,000Selling expenses81,200Administrative expenses100,800Loss on sale of equipment7,000Income tax expense89,600Shares of common stockOutstanding at January 121,000 sharesAdditional issued at May 19,000 sharesAdditional issued at November 12,800 sharesRequiredPrepare a multiple-step income statement for Bowden Corporation for the year. Include earnings per share disclosure at the bottom of the income statement.Do not use negative signs with any of your answers below.BOWDEN CORPORATIONIncome StatementFor the Year Ended December 31Sales Revenue1,043,000 vCost of Goods Sold630,000 vGross Profit on Sales413,000 vSelling ExpensesAdministrative Expenses81,200 v100,800 v182,000 v231,000 vOperating IncomeLoss on Sale of Equipment7,000 vIncome before Taxes224,000 vIncome Tax Expense89,600 vNet Income134,400Earnings per share of Common Stock11.23 xCheck- x目2I 5:39Support

Net Income = $134,400 Total Shares Outstanding = Outstanding at January 1 + Additional Issued At may…

Administrative expenses Loss on sale of equipment Income tax expense 100,800 7,000 89,600 Shares of common stock Outstanding at January 1 Additional issued at May 1 21,000 shares 9.000 shares Additional issued at November 1| 2,800 shares Required Prepare a multiple-step income statement for Bowden Corporation for the year. Include earnings per sha po not use negative signs with any of your answers below. BOWDEN CORPORATION Income Statement For the Year Ended December 31 Sales Revenue Cost of Goods Sold 1,043,000 630,000 Gross Profit on Sales 413,000 v Selling Expenses Administrative Expenses Operating Income Loss on Sale of Equipment 81,200 v 100.800 v 182.000 v 231,000 7,000 v Income before Taxes 224,000 v Income Tax Expense 89,600

Administrative expenses Loss on sale of equipment Income tax expense 100,800 7,000 89,600 Shares of common stock Outstanding at January 1 Additional issued at May 1 21,000 shares 9.000 shares Additional issued at November 1| 2,800 shares Required Prepare a multiple-step income statement for Bowden Corporation for the year. Include earnings per sha po not use negative signs with any of your answers below. BOWDEN CORPORATION Income Statement For the Year Ended December 31 Sales Revenue Cost of Goods Sold 1,043,000 630,000 Gross Profit on Sales 413,000 v Selling Expenses Administrative Expenses Operating Income Loss on Sale of Equipment 81,200 v 100.800 v 182.000 v 231,000 7,000 v Income before Taxes 224,000 v Income Tax Expense 89,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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