$: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…

Answered: Prepare a multiple-step income…

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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Question

The following information is related to Nash Company for 2025.
Retained earnings balance, January 1, 2025
Sales revenue
Cost of goods sold
Interest revenue
Selling and administrative expenses
Write-off of goodwill
Income taxes for 2025
Gain on the sale of investments
Loss 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 stock
Dividends declared on preferred stock
(a1)
$901,600
23,000,000
14,720,000
Nash Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and
to 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.
+
64,400
4,324,000
754,400
1,144,480
101,200
358,800
404,800
82,800
230,000
73,600
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.)
$
NASH COMPANY
Income Statement
$
SUPPORT

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