Prepare single step Income statementDo not give answer in image Briel Exercise 4-12Riverbed Corporation had net sales revenue of $5,925,000 and investment revenue of $225,000 for the year ended December 31, 2020. Other items pertaining to 2020 were afollows:Cost of goods soldSalaries and wages expense (sales)Advertising expenseEntertainment expenseSelling expensesSalaries and wages expense (administrative)Rent expenseUtilities expenseAdministrative expensesIncrease in value of company reputationUnrealized gain on value of patentsInterest expenseIncome tax expense$4,675,000BI362,000129,00075,000566,000305,000101,00044,000450,00071,00035,000158,00081,000Riverbed has 100,000 common shares outstanding throughout the yearPrepare a single-step income statement showing expenses by nature. Include calculation of EPS (Rond per share ar to 2 del places 6.52.723Riverbed CorporationIncome StatementBEPRINTER VERSION BACKHockeyal321 PM

Typically a quarter or a year, the single-step income statement is a condensed style for displaying…

Briel Exercise 4-12 Riverbed Corporation had net sales revenue of $5,925,000 and investment revenue of $225,000 for the year ended December 31, 2020. Other items pertaining to 2020 wen follows: Cost of goods sold Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses Riverbed Corporation $4,675,000 B 362,000 129,000 75,000 566,000 305,000 101.000 44,000 450,000 Increase in value of company reputation Unrealized gain on value of patents Interest expense 158,000 Income tax expense $1,000 Riverbed has 100.000 common shares outstanding throughout the war 71,000 35,000 PRINTER VERSION

Briel Exercise 4-12 Riverbed Corporation had net sales revenue of $5,925,000 and investment revenue of $225,000 for the year ended December 31, 2020. Other items pertaining to 2020 wen follows: Cost of goods sold Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses Riverbed Corporation $4,675,000 B 362,000 129,000 75,000 566,000 305,000 101.000 44,000 450,000 Increase in value of company reputation Unrealized gain on value of patents Interest expense 158,000 Income tax expense $1,000 Riverbed has 100.000 common shares outstanding throughout the war 71,000 35,000 PRINTER VERSION

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What is meant by discontinued operations, and what can I put as one example.What is meant by comprehensive income? and what example can I put down
5. Name an “economic cost” that is omitted from the accounting income statements that should be of interest to management.
Which of the following costs would not be included in accounting financial statements? O A. opportunity costs O B. sunk costs O C. historical costs O D. All of the above would be included in accounting financial statements
The accounting principle upon which deferrals and accruals are based is Oa. conservatism Ob. matching Oc. price-level adjustment Od. cost
this is the old way using income summary, i need the new way.