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The trial balance of Rollins Inc. included the following accounts as of December 31, 2016: Debits Credits 6,000,000 40,500 Sales revenue Interest revenue Loss on sale of investments Unrealized losses on investments Foreign currency translation gains Cost of goods sold Selling expenses Restructuring costs Interest expense General and administrative expenses 15,000 154,000 4,490,000 410,000 185,000 15,000 310,000 265,000 Rollins had 100,000 shares of stock outstanding throughout the year. Income the expense has not yet beer accrued. The effective tax rate is 40% Required: Prepare a 2016 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) ROLLINS INC. Statement of Comprehensive Income For the Year Ended December 31, 2016

The trial balance of Rollins Inc. included the following accounts as of December 31, 2016: Debits Credits 6,000,000 40,500 Sales revenue Interest revenue Loss on sale of investments Unrealized losses on investments Foreign currency translation gains Cost of goods sold Selling expenses Restructuring costs Interest expense General and administrative expenses 15,000 154,000 4,490,000 410,000 185,000 15,000 310,000 265,000 Rollins had 100,000 shares of stock outstanding throughout the year. Income the expense has not yet beer accrued. The effective tax rate is 40% Required: Prepare a 2016 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) ROLLINS INC. Statement of Comprehensive Income For the Year Ended December 31, 2016

FINANCIAL ACCOUNTING
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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The trial balance of Rollins Inc. included the following accounts as of December 31, 2016: Debits Credits 6,000,000 40,500 Sales revenue Interest revenue Loss on sale of investments Unrealized losses on investments Foreign currency translation gains Cost of goods sold Selling expenses Restructuring costs Interest expense General and administrative expenses 15,000 154,000 4,490,000 410,000 185,000 15,000 310,000 265,000 Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%. Required: Prepare a 2016 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) ROLLINS INC. Statement of Comprehensive Income For the Year Ended December 31, 2016
Transcribed Image Text:The trial balance of Rollins Inc. included the following accounts as of December 31, 2016: Debits Credits 6,000,000 40,500 Sales revenue Interest revenue Loss on sale of investments Unrealized losses on investments Foreign currency translation gains Cost of goods sold Selling expenses Restructuring costs Interest expense General and administrative expenses 15,000 154,000 4,490,000 410,000 185,000 15,000 310,000 265,000 Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%. Required: Prepare a 2016 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) ROLLINS INC. Statement of Comprehensive Income For the Year Ended December 31, 2016
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