Kingbird Ltd. had sales revenue of £ 648,000 in 2022. Other items recorded during the year were: Cost of goods sold £ 396,000 Selling expenses 144,000 Income tax 30,000 Increase in value of employees 18,000 Administrative expenses 12,000 Prepare an income statement for Kingbird for 2022. Kingbird has 100,000 shares outstanding. (Round earnings per share to 2 decimal places, eg. 1.48.)
Kingbird Ltd. had sales revenue of £ 648,000 in 2022. Other items recorded during the year were: Cost of goods sold £ 396,000 Selling expenses 144,000 Income tax 30,000 Increase in value of employees 18,000 Administrative expenses 12,000 Prepare an income statement for Kingbird for 2022. Kingbird has 100,000 shares outstanding. (Round earnings per share to 2 decimal places, eg. 1.48.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
Related questions
Question
![Kingbird Ltd. had sales revenue of £ 648,000 in 2022. Other items recorded during the year were:
Cost of goods sold
£ 396,000
Selling expenses
144,000
Income tax
30,000
Increase in value of employees
18,000
Administrative expenses
12,000
Prepare an income statement for Kingbird for 2022. Kingbird has 100,000 shares outstanding. (Round earnings per share to 2 decimal
places, eg. 1.48.)
KINGBIRD LTD
Income Statement
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0a6da956-2755-4762-ab7e-fe87f0a2acdd%2F9001b0e5-0dfc-42e3-a4ce-90fd806523f4%2Fjqy8e4a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kingbird Ltd. had sales revenue of £ 648,000 in 2022. Other items recorded during the year were:
Cost of goods sold
£ 396,000
Selling expenses
144,000
Income tax
30,000
Increase in value of employees
18,000
Administrative expenses
12,000
Prepare an income statement for Kingbird for 2022. Kingbird has 100,000 shares outstanding. (Round earnings per share to 2 decimal
places, eg. 1.48.)
KINGBIRD LTD
Income Statement
>
![| ||
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0a6da956-2755-4762-ab7e-fe87f0a2acdd%2F9001b0e5-0dfc-42e3-a4ce-90fd806523f4%2Ftb3g6md_processed.jpeg&w=3840&q=75)
Transcribed Image Text:| ||
>
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Intermediate Financial Management (MindTap Course…](https://www.bartleby.com/isbn_cover_images/9781337395083/9781337395083_smallCoverImage.gif)
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT