The accountant of Bonita Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2025. Rent revenue Interest expense Market appreciation on land above cost Salaries and wages expense (selling) Supplies (selling) Income tax $30,800 19,800 32.800 116,600 19,400 24,900 A

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The accountant of Bonita Shoe Co. has compiled the following information from the company's records as a basis for an income
statement for the year ended December 31, 2025.
Rent revenue
Interest expense
Market appreciation on land above cost
Salaries and wages expense (selling)
Supplies (selling)
Income tax
Salaries and wages expense (administrative)
Other administrative expenses
Cost of goods sold
Show Transcribed Text
Salaries and wages expense (seming
Supplies (selling)
Income tax
S
Net sales
$30,800
Ċ
19,800
32,800
116,600
19,400
24,900
137,700
53,500
497,800
Salaries and wages expense (administrative)
Other administrative expenses
Cost of goods sold
A
Depreciation on plant assets (70% selling, 30% administrative)
Cash dividends declared
110,000
19,400
24,900
137,700
53,500
497,800
981,800
66.800
17,800
There were 20,000 shares of common stock outstanding during the year.
Transcribed Image Text:The accountant of Bonita Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2025. Rent revenue Interest expense Market appreciation on land above cost Salaries and wages expense (selling) Supplies (selling) Income tax Salaries and wages expense (administrative) Other administrative expenses Cost of goods sold Show Transcribed Text Salaries and wages expense (seming Supplies (selling) Income tax S Net sales $30,800 Ċ 19,800 32,800 116,600 19,400 24,900 137,700 53,500 497,800 Salaries and wages expense (administrative) Other administrative expenses Cost of goods sold A Depreciation on plant assets (70% selling, 30% administrative) Cash dividends declared 110,000 19,400 24,900 137,700 53,500 497,800 981,800 66.800 17,800 There were 20,000 shares of common stock outstanding during the year.
(b)
Prepare a single-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.)
Show Transcribed Text
BONITA SHOE CO.
Income Statement
Q Search
c
hp
$
$
I
Transcribed Image Text:(b) Prepare a single-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) Show Transcribed Text BONITA SHOE CO. Income Statement Q Search c hp $ $ I
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