Prepare a multi-step income statement for 2015. Include earnings per share. (Round your earnings per share to 2 decimal places. )
Prepare a multi-step income statement for 2015. Include earnings per share. (Round your earnings per share to 2 decimal places. )
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...
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Question
Romney’s Marketing Company has the following adjusted |
Debit | Credit | |||||||
Cash | $ | 1,660 | ||||||
|
2,370 | |||||||
Interest receivable | 250 | |||||||
Prepaid insurance | 1,620 | |||||||
Notes receivable (long-term) | 2,870 | |||||||
Equipment | 16,400 | |||||||
|
$ | 2,990 | ||||||
Accounts payable | 2,300 | |||||||
Accrued expenses payable | 3,760 | |||||||
Income taxes payable | 2,580 | |||||||
Unearned rent revenue | 440 | |||||||
Common Stock (830 shares) | 83 | |||||||
Additional paid-in capital | 3,467 | |||||||
|
4,860 | |||||||
Sales revenue | 37,250 | |||||||
Interest revenue | 190 | |||||||
Rent revenue | 610 | |||||||
Wages expense | 18,100 | |||||||
Depreciation expense | 1,700 | |||||||
Utilities expense | 320 | |||||||
Insurance expense | 700 | |||||||
Rent expense | 9,800 | |||||||
Income tax expense | 2,740 | |||||||
Total | $ | 58,530 | $ | 58,530 | ||||
Prepare a multi-step income statement for 2015. Include earnings per share. (Round your earnings per share to 2 decimal places. ) |
![Income Statement
For the Year Ended December 31, 2015
Operating revenues:
Sales revenue
Total operating revenues
Operating expenses:
Wages expense
Depreciation expense
Utilities expense
Insurance expense
Rent expense
Total operating expenses
Operating income
Other items:
Income taxes expense
Interest revenue
Rent revenue
Common stock
Earnings per share
$
37,250
37,250
18,100
1,700
320
700
9,800
30,620
6,630
2,740
190
610
10,170
540](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd960bb05-f8e9-458e-8dc8-ba896c5de05d%2F98308efe-0eff-4e4e-b945-57958b2ef4b4%2Fzwgs1n_processed.png&w=3840&q=75)
Transcribed Image Text:Income Statement
For the Year Ended December 31, 2015
Operating revenues:
Sales revenue
Total operating revenues
Operating expenses:
Wages expense
Depreciation expense
Utilities expense
Insurance expense
Rent expense
Total operating expenses
Operating income
Other items:
Income taxes expense
Interest revenue
Rent revenue
Common stock
Earnings per share
$
37,250
37,250
18,100
1,700
320
700
9,800
30,620
6,630
2,740
190
610
10,170
540
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