Presented below are selected ledger accounts of Splish SA as of December 31, 2022. Cash €63,000 Administrative expenses 126,000 Selling expenses 100,800 Net sales 680,400 Cost of goods sold 327,600 Cash dividends declared (2022) 25,200 Cash dividends paid (2022) 18,900 Discontinued operations (loss before income taxes) 50,400 Depreciation expense, not recorded in 2021 37,800 Retained earnings, December 31, 2021 113,400 Effective tax rate 30% (a) Compute net income for 2022. Net income
Presented below are selected ledger accounts of Splish SA as of December 31, 2022. Cash €63,000 Administrative expenses 126,000 Selling expenses 100,800 Net sales 680,400 Cost of goods sold 327,600 Cash dividends declared (2022) 25,200 Cash dividends paid (2022) 18,900 Discontinued operations (loss before income taxes) 50,400 Depreciation expense, not recorded in 2021 37,800 Retained earnings, December 31, 2021 113,400 Effective tax rate 30% (a) Compute net income for 2022. Net income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
i need Part B
Transcribed Image Text:Presented below are selected ledger accounts of Splish SA as of December 31, 2022.
Cash
€63,000
Administrative expenses
126,000
Selling expenses
100,800
Net sales
680,400
Cost of goods sold
327,600
Cash dividends declared (2022)
25,200
Cash dividends paid (2022)
18,900
Discontinued operations (loss before income taxes)
50,400
Depreciation expense, not recorded in 2021
37,800
Retained earnings, December 31, 2021
113,400
Effective tax rate 30%
(a)
Compute net income for 2022.
Net income
Transcribed Image Text:(b)
Prepare a partial income statement beginning with income before income tax, and including appropriate earnings per share
information. Assume 20,000 ordinary shares were outstanding during 2022. (Round earnings per share to 2 decimal places, eg. 1.58.)
SPLISH SA
Income Statement
>
>
>
Expert Solution
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
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education