Skysong Corporation had net sales of $2,404,500 and interest
revenue of $37,700 during 2020. Expenses for 2020 were cost of
goods sold $1,466,900, administrative expenses $214,700, selling
expenses $284,600, and interest expense $47,200. Skysong’s tax rate
is 30%. The corporation had 100,400 shares of common stock
authorized and 70,220 shares issued and outstanding during 2020.
Prepare a condensed multiple-step income statement for Skysong
Corporation. (Round earnings per share to 2 decimal
places, e.g. 1.48.)
SKYSONG CORPORATION Income Statement choose the accounting period December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020 |
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---|---|---|
select an opening name for this statement
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
$enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
select a summarizing line for the first part
Dividends Earnings Per Share Expenses Gross Profit / (Loss) Income Before Income Tax Income From Operations Net Income / (Loss) Net Sales Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues Other Revenues and Gains Other Expenses and Losses |
enter a total amount for the first part | |
enter an income statement item | $enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select a summarizing line for the second part
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
enter a total amount for the second part | |
select an opening name for section two
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
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enter an income statement item | enter a dollar amount | |
select an opening name for section three
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
||
enter an income statement item | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select a summarizing line for the third part
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
enter a total amount for the third part | |
enter an income statement item | enter a dollar amount | |
select a closing name for this statement
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
$enter a total net income or loss amount | |
select an income statement item
DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses |
$enter a dollar amount rounded to 2 decimal places |
Skysong Corporation had net sales of $2,404,500 and interest revenue of $37,700 during 2020. Expenses for...
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