$:SUPPORT The following information is related to Nash Company for 2025.Retained earnings balance, January 1, 2025Sales revenueCost of goods soldInterest revenueSelling and administrative expensesWrite-off of goodwillIncome taxes for 2025Gain on the sale of investmentsLoss due to flood damage.Loss on the disposition of the wholesale division (net of tax)Loss on operations of the wholesale division (net of tax)Dividends declared on common stockDividends declared on preferred stock(a1)$901,60023,000,00014,720,000Nash Company decided to discontinue its entire wholesale operations (considered a discontinued operation) andto retain its manufacturing operations. On September 15, Nash sold the wholesale operations to Rogers.Company. During 2025, there were 500,000 shares of common stock outstanding all year.+64,4004,324,000754,4001,144,480101,200358,800404,80082,800230,00073,600Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List otherrevenues and gains before other Expenses and losses.)$NASH COMPANYIncome Statement$SUPPORT

The multi-step income statement is one of the financial statements that shows all income and all expenses in multiple steps and at the end, it shows net income or loss. Under the multiple-step income statement, the income from continuing operations and income from discontinuing operations are shown separately. The retained earnings statement shows changes in the retained earnings balance over the period of time. The multi-step income statement is prepared below:Formula: Result:Hence, the net income is $1,376,320. Requirement a-1:

Answered: Prepare a multiple-step income…

Business

Accounting

Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List other revenues and gains before other Expenses and losses.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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