Concord Corporation had net sales of $2,409,400 and interest revenue of $38,100 during 2025. Expenses for 2025 were cost of goods sold $1,463,800, administrative expenses $222,000, selling expenses $286,700, and interest expense $48,900. Concord's tax rate is 30%. The corporation had 104,900 shares of common stock authorized and 59,654 shares issued and outstanding during 2025. Prepare a single-step income statement for the year ended December 31, 2025. (Round earnings per share to 2 decimal places, e.g. 1.48.) Revenues Net Sales Interest Revenue Total Revenues Expenses Cost of Goods Sold Administrative Expenses CONCORD CORPORATION Income Statement For the Year Ended December 31, 2025 1463800 222000 2409400 38100 2447500
Concord Corporation had net sales of $2,409,400 and interest revenue of $38,100 during 2025. Expenses for 2025 were cost of goods sold $1,463,800, administrative expenses $222,000, selling expenses $286,700, and interest expense $48,900. Concord's tax rate is 30%. The corporation had 104,900 shares of common stock authorized and 59,654 shares issued and outstanding during 2025. Prepare a single-step income statement for the year ended December 31, 2025. (Round earnings per share to 2 decimal places, e.g. 1.48.) Revenues Net Sales Interest Revenue Total Revenues Expenses Cost of Goods Sold Administrative Expenses CONCORD CORPORATION Income Statement For the Year Ended December 31, 2025 1463800 222000 2409400 38100 2447500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Concord Corporation had net sales of $2,409,400 and interest revenue of $38,100 during 2025. Expenses for 2025 were cost of goods
sold $1,463,800, administrative expenses $222,000, selling expenses $286,700, and interest expense $48,900. Concord's tax rate
is 30%. The corporation had 104,900 shares of common stock authorized and 59,654 shares issued and outstanding during 2025.
Prepare a single-step income statement for the year ended December 31, 2025. (Round earnings per share to 2 decimal places, e.g. 1.48.)
Revenues
Net Sales
Interest Revenue
Total Revenues
Expenses
Cost of Goods Sold
Administrative Expenses
CONCORD CORPORATION
Income Statement
For the Year Ended December 31, 2025
1463800 i
222000 I
2409400
38100
2447500
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