Do not give answer in image The following information is related to Whispering Company for 2025.Retained earnings balance, January 1, 2025Sales revenueCost of goods soldInterest revenueSelling and administrative expensesWrite-off of goodwillIncome taxes for 2025Gain on the sale of investmentsLoss due to flood damageLoss on the disposition of the wholesale division (net of tax)Loss on operations of the wholesale division (net of tax)Dividends declared on common stockDividends declared on preferred stock$1,078,000(a1)27,500,00017,600,00077,0005,170,000902,0001.368,400121,000429,000484,00099,000275,00088,000Whispering Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain itsmanufacturing operations. On September 15, Whispering sold the wholesale operations to Rogers Company. During 2025, therewere 500,000 shares of common stock outstanding all year.Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List other revenues and gains beforeother Expenses and losses.)

An income statement is prepared by the business entities so as to know how much amount of gross…

The following information is related to Whispering Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2025 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared on preferred stock $1,078,000 27,500,000 17,600,000 77,000 5,170,000 902,000 1.368,400 121,000 429,000 484,000 99,000 275,000 88,000 Whispering Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Whispering sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year. (a1) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, eg. 1.49. List other revenues and gains before

The following information is related to Whispering Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2025 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared on preferred stock $1,078,000 27,500,000 17,600,000 77,000 5,170,000 902,000 1.368,400 121,000 429,000 484,000 99,000 275,000 88,000 Whispering Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Whispering sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year. (a1) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, eg. 1.49. List other revenues and gains before

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 19BEA

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Question

Do not give answer in image

The following information is related to Whispering Company for 2025.
Retained earnings balance, January 1, 2025
Sales revenue
Cost of goods sold
Interest revenue
Selling and administrative expenses
Write-off of goodwill
Income taxes for 2025
Gain on the sale of investments
Loss due to flood damage
Loss on the disposition of the wholesale division (net of tax)
Loss on operations of the wholesale division (net of tax)
Dividends declared on common stock
Dividends declared on preferred stock
$1,078,000
(a1)
27,500,000
17,600,000
77,000
5,170,000
902,000
1.368,400
121,000
429,000
484,000
99,000
275,000
88,000
Whispering Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its
manufacturing operations. On September 15, Whispering sold the wholesale operations to Rogers Company. During 2025, there
were 500,000 shares of common stock outstanding all year.
Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List other revenues and gains before
other Expenses and losses.)

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