Homework Answers
SPLISH CORPORATION
Income Statement
For the Year Ended December 31, 2020
| Net sales | $2,413,100 | |
| Cost of goods sold | ($1,467,000) | |
| Gross profit | $946,100 | |
| Administrative expenses | $220,000 | |
| Selling expenses | $292,200 | ($512,200) |
| Income from operations | $433,900 | |
| Other revenue and gains | ||
| Interest revenue | $33,400 | |
| Other expenses and losses | ||
| Interest expense | $53,900 | ($20,500) |
| Income before income tax | $413,400 | |
| Income tax expense(30%) | ($124,020) | |
| Net income | $289,380 | |
| Earnings per share($289,380 / 71,090 shares) | $4.07 |
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Question 2 of 5 < 0.3/10 E Splish Corporation had net sales of $2.413,100 and interest...
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Swifty Corporation had net sales of $2,407,400 and interest revenue of $40,400 during 2020. Expenses for...
Swifty Corporation had net
sales of $2,407,400 and interest revenue of $40,400 during 2020.
Expenses for 2020 were cost of goods sold $1,458,700,
administrative expenses $218,400, selling expenses $281,400, and
interest expense $48,000. Swifty’s tax rate is 30%. The corporation
had 104,200 shares of common stock authorized and 72,630 shares
issued and outstanding during 2020. Prepare a condensed
multiple-step income statement for Swifty Corporation.
Net Sales Cost of Goods Sold Gross Profit/(Loss) Selling Expenses Administrative Expenses Other Revenues and Gains...
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Nash Corporation had net sales of $2,420,000 and interest
revenue of $40,900 during 2017. Expenses for 2017 were cost of
goods sold $1,453,900, administrative expenses $221,800, selling
expenses $296,100, and interest expense $51,900. Nash’s tax rate is
30%. The corporation had 105,200 shares of common stock authorized
and 74,850 shares issued and outstanding during 2017. Prepare a
condensed multiple-step income statement for Nash Corporation.
(Round earnings per share to 2 decimal places, e.g.
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LiST OF OPTIONS AND ACCOUNTS:
NASH...
need help plss
Crane Corporation had net sales of $2.406,100 and interest revenue of $33,400 during 2020. Expenses for 2020 were cost of goods sold $1.450.300, administrative expenses $214.900, selling expenses $290,300, and interest expense $46.200. Crane's tax rate is 30%. The corporation had 102,100 shares of common stock authorized and 70.750 shares issued and outstanding during 2020. Prepare a condensed multiple-step income statement for Crane Corporation (Round earnings per share to 2 decimal places, eg. 1.48.)
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Swifty Corporation had net
sales of $2,407,400 and interest revenue of $40,400 during 2020.
Expenses for 2020 were cost of goods sold $1,458,700,
administrative expenses $218,400, selling expenses $281,400, and
interest expense $48,000. Swifty’s tax rate is 30%. The corporation
had 104,200 shares of common stock authorized and 72,630 shares
issued and outstanding during 2020. Prepare a condensed
multiple-step income statement for Swifty Corporation.
Net Sales Cost of Goods Sold Gross Profit/(Loss) Selling Expenses Administrative Expenses Other Revenues and Gains...
Skysong Corporation had net sales of $2,406,400 and interest revenue of $40,100 during 2020. Expenses for 2020 were cost of goods sold $1,461,200, administrative expenses $220,800, selling expenses $285,300, and interest expense $53,200. Skysong's tax rate is 30%. The corporation had 104,400 shares of common stock authorized and 73,520 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020. (Round earnings per share to 2 decimal places, eg. 1.48.)
Nash Corporation had net sales of $2,420,000 and interest
revenue of $40,900 during 2017. Expenses for 2017 were cost of
goods sold $1,453,900, administrative expenses $221,800, selling
expenses $296,100, and interest expense $51,900. Nash’s tax rate is
30%. The corporation had 105,200 shares of common stock authorized
and 74,850 shares issued and outstanding during 2017. Prepare a
condensed multiple-step income statement for Nash Corporation.
(Round earnings per share to 2 decimal places, e.g.
1.48.)
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