The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following accounts: Account Title Sales revenue Cost of goods sold Selling and administrative expense Interest expense Gain on debt securities Gross profit Operating expenses The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 25%. There were 1,300,000 shares of common stock outstanding throughout 2021. LINDOR CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2021 Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2021, including appropriate EPS disclosures. (Round EPS answer to 2 decimal places.) Operating income Other income (expense) Income before income taxes Debits 1,530,000 437,000 53,000 Net income Other comprehensive income (net of tax) Credits 2,580,000 Comprehensive income Earnings per share: 93,000

The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following accounts: Account Title Sales revenue Cost of goods sold Selling and administrative expense Interest expense Gain on debt securities Gross profit Operating expenses The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 25%. There were 1,300,000 shares of common stock outstanding throughout 2021. LINDOR CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2021 Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2021, including appropriate EPS disclosures. (Round EPS answer to 2 decimal places.) Operating income Other income (expense) Income before income taxes Debits 1,530,000 437,000 53,000 Net income Other comprehensive income (net of tax) Credits 2,580,000 Comprehensive income Earnings per share: 93,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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