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Prepare an income statement for 2022. Assume that 4.000 ordinary share are standing Soundig persto 2 deal places 1.40) Not Lin from Operation Ofer V for the WATERWAY LTD. Income Statement 70000 34400 100000 34000 1200 per 40000 14720 L.M

Prepare an income statement for 2022. Assume that 4.000 ordinary share are standing Soundig persto 2 deal places 1.40) Not Lin from Operation Ofer V for the WATERWAY LTD. Income Statement 70000 34400 100000 34000 1200 per 40000 14720 L.M

FINANCIAL ACCOUNTING
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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Presented below is information related to Waterway Ltd. for the year 2022 (amounts in thousands) Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2021 Interest expense Cash dividends declared Retained earnings at December 31,2021 Effective tax rate of 34% on all items Net sales Cost of goods sold Selling expemes Administrative expenses Dividend revenue Interest revenue Net Sales Ct of Good Sok Gres Prot/Boo Seg Expenses Adidative Expenses Income frem Operations Prepare an income statement for 2022. Assume that .000 ordinary shares are outstanding. Round earnings per share to 2 decimal places, eg 1.49) CONGEN Der revenue and g DlReverse Income rest Expe From Operatiane V No The Dp For Shawy, HK$1.392.000 Expenses V Less V Betained Earnings December 31 Add V Netcom V 912.000 70,000 56.400 34.000 Ratained Earnings, Jory as anted V Dividends Declared 9.200 WATERWAY LTD. Income Statement For the Year Ended December 21, 2022 HKS 70000 56400 100,000 Prepare a retained earnings statement for 2022. (List items that increase adjusted retained earnings first) WATERWAY LTD. Retained Earnings Statement For the Year Ended December 31, 2022 34000 9200 HKS HK$ HKS HOLS HK$100.000 50,000 58,000 34.000 A 1.144,000 192000 912000 40000 126400 50000 13720 10429) 1.58
Transcribed Image Text:Presented below is information related to Waterway Ltd. for the year 2022 (amounts in thousands) Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2021 Interest expense Cash dividends declared Retained earnings at December 31,2021 Effective tax rate of 34% on all items Net sales Cost of goods sold Selling expemes Administrative expenses Dividend revenue Interest revenue Net Sales Ct of Good Sok Gres Prot/Boo Seg Expenses Adidative Expenses Income frem Operations Prepare an income statement for 2022. Assume that .000 ordinary shares are outstanding. Round earnings per share to 2 decimal places, eg 1.49) CONGEN Der revenue and g DlReverse Income rest Expe From Operatiane V No The Dp For Shawy, HK$1.392.000 Expenses V Less V Betained Earnings December 31 Add V Netcom V 912.000 70,000 56.400 34.000 Ratained Earnings, Jory as anted V Dividends Declared 9.200 WATERWAY LTD. Income Statement For the Year Ended December 21, 2022 HKS 70000 56400 100,000 Prepare a retained earnings statement for 2022. (List items that increase adjusted retained earnings first) WATERWAY LTD. Retained Earnings Statement For the Year Ended December 31, 2022 34000 9200 HKS HK$ HKS HOLS HK$100.000 50,000 58,000 34.000 A 1.144,000 192000 912000 40000 126400 50000 13720 10429) 1.58
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