Presented below is information related to Blue Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue (a) $1,586,000 951,600 79,300 58,560 24,400 8,540 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2024 Casualty loss Cash dividends declared Retained earnings at December 31, 2024 Effective tax rate of 20% on all items $97.600 67,100 61,000 54,900 BLUE CORP. Income Statement 1,195,600 Prepare a multiple-step income statement for 2025. Assume that 74,176 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.)
Presented below is information related to Blue Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue (a) $1,586,000 951,600 79,300 58,560 24,400 8,540 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2024 Casualty loss Cash dividends declared Retained earnings at December 31, 2024 Effective tax rate of 20% on all items $97.600 67,100 61,000 54,900 BLUE CORP. Income Statement 1,195,600 Prepare a multiple-step income statement for 2025. Assume that 74,176 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Presented below is information related to Blue Corp. for the year 2025.
Net sales
Cost of goods sold
Selling expenses
Administrative expenses
Dividend revenue
Interest revenue
(a)
$1,586,000
951,600
79,300
58,560
24,400
8,540
Write-off of inventory due to obsolescence
Depreciation expense omitted by accident in 2024
Casualty loss
Cash dividends declared
Retained earnings at December 31, 2024
Effective tax rate of 20% on all items
$97,600
67,100
61,000
BLUE CORP.
Income Statement
54,900
1,195,600,
Prepare a multiple-step income statement for 2025. Assume that 74,176 shares of common stock are outstanding for the entire
year. (Round earnings per share to 2 decimal places, e.g. 1.49.)
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