Presented below is information related to Bramble Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue (a) $1,378,000 826,800 68,900 50,880 21,200 7,420 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 $84,800 58,300 53,000 47,700 1,038,800 Prepare a multiple-step income statement for 2025. Assume that 64,448 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 Bramble Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue (a) $1,378,000 826,800 68,900 50,880 21,200 7,420 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 $84,800 58,300 53,000 47,700 1,038,800 Prepare a multiple-step income statement for 2025. Assume that 64,448 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 Bramble Corp. for the year 2025.
Net sales
Cost of goods sold
Selling expenses
Administrative expenses
Dividend revenue
Interest revenue
(a)
$1,378,000
826,800
68,900
50,880
21,200
7,420
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
$84,800
58,300
53,000
47,700
1,038,800
Prepare a multiple-step income statement for 2025. Assume that 64,448 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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