Presented below is information related to Nash Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,066,000 639,600 53,300 39,360 16,400 5,740 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 $65,600 45,100 41,000 36,900 803,600
Presented below is information related to Nash Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,066,000 639,600 53,300 39,360 16,400 5,740 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 $65,600 45,100 41,000 36,900 803,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Presented below is information related to Nash Corp. for the year 2025.
Net sales
Cost of goods sold
Selling expenses
Administrative expenses
Dividend revenue
Interest revenue
(a)
$1,066,000
639,600
53,300
39,360
16,400
5,740
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
NASH CORP.
Income Statement
$
$65,600
$
45,100
Prepare a multiple-step income statement for 2025. Assume that 62,320 shares of common stock are outstanding for the entire
year. (Round earnings per share to 2 decimal places, e.g. 1.49.)
41,000
36,900
803,600
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