The following information is available for Oriole Corporation
for the year ended December 31, 2020: sales revenue $815,000, other
revenues and gains $94,000, operating expenses $117,000, cost of
goods sold $460,000, other expenses and losses $34,500, and
preferred stock dividends $34,125. The company’s tax rate was 35%,
and it had 65,000 shares outstanding during the entire year.
Prepare a corporate income statement. (List other
revenues before other expenses.)
Oriole Corporation | |
Income Statement | |
For the Year Ended December 31, 2020 | |
$ | |
Sales revenue | 815,000.00 |
Cost of goods sold | (460,000.00) |
Gross profit | 355,000.00 |
Operating Expense | (117,000.00) |
Income from Operations | 238,000.00 |
Other Revenues & Gains | 94,000.00 |
Other Expenses & Losses | (34,500.00) |
Income Before Income Taxes | 297,500.00 |
Income Tax Expenses ($297,500 x 35%) | (104,125.00) |
Net Income | 193,375.00 |
The following information is available for Oriole Corporation for the year ended December 31, 2020: sales...
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses $116,000, cost of goods sold $464.000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares outstanding during the entire year Prepare a corporate Income statement. (List other revenues before other expenses.) ORIOLE CORPORATION Income Statement < < < < < < < Calculate...
The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales revenue $770,000, other revenues and gains $91,500, operating expenses $109,000, cost of goods sold $470,000, other expenses and losses $34,000, and preferred stock dividends $31,850. The company’s tax rate was 30%, and it had 49,000 shares outstanding during the entire year. Prepare a corporate income statement.
The following information is available for Blossom Corporation for the year ended December 31, 2020: sales revenue $830,000, other revenues and gains $90,500, operating expenses $105,000, cost of goods sold $469,000, other expenses and losses $30,000, and preferred stock dividends $40,175. The company’s tax rate was 25%, and it had 68,000 shares outstanding during the entire year. Calculate earnings per share.
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses 116,000, cost of goods sold $464,000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares utstanding during the entire year repare a corporate income statement. (List other revenues before other expenses.) ORIOLE CORPORATION In State Calculate earnings per share. (Round answer to 2...
The following information is avalable for Culumber Corporation for the year ended December 31, 2020: sales revenue $775.000, other revenues and gains 509,500, operating expenses $109.000, cost of goods so 400.000, other expenses and ses $31.000, and preferred stock dividends $35.525. The company tax rate was and it had 64.000 shares outstanding during the entire year Prepare a corporate income statement (List other revenues before there CULLUMBER CORPORATION
Exercise 14-12a-b The following information is available for Blossom Corporation for the year ended December 31, 2020: sales revenue $830,000, other revenues and gains $90,500, operating expenses $105,000, cost of goods sold $469,000, other expenses and losses $30,000, and preferred stock dividends $40,175. The company's tax rate was 25%, and it had 68,000 shares outstanding during the entire year. BLOSSOM CORPORATION Income Statement sion) IN Calculate earnings per share. (Round answer to 2 decimal places, e.g. 2.25.) Earnings per share
Q2. The following information is available for Kesley Corporation for the year ended December 31, 2016: Sales $700000; Other revenues and Gains $9000; operating expenses $20000; cost of goods sold S300000; other expenses and losses $4000; preferred stock dividend $10000. The company tax rate 25% and it had 25000 shares outstanding during the entire year. Required: c. Prepare a Income Statement (Marking Scheme: Computation- 8 Marks, Correct Marks 2 Marks) d. Calculate earnings per share (Marking Scheme Computation 4 Marks,...
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost of goods sold $223,000, sales revenue $457,000, other revenues and gains $54,500, and operating expenses $80,000. Assuming a corporate tax rate of 30%, prepare an income statement for the company. CORONADO CORPORATION Income Statement
The following information is available for Reinsch Corporation for the year ended December 31, 2017: cost of goods sold $211,000, sales revenue $438,000, other revenues and gains $45,500, and operating expenses $71,000. Assuming a corporate tax rate of 25%, prepare an income statement for the company. REINSCH CORPORATION Income Statement
student mainituni DOOR UKUR OWN signment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 14-12 a-b The following information is available for Sandhill Corporation for the year ended December 31, 2020: sales revenue $810,000, other revenues and gains $86,500, operating expenses $105,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $46,000. The company's tax rate was 35%, and it had 55,000 shares outstanding during the entire year. Prepare a corporate income statement. (List other...