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    house lady Posts: 3, Reputation: 1
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    #1

    Nov 9, 2007, 09:12 PM
    Multiple-step Income Statement
    Hello, I have been trying to prepare a multiple step income statement I hope that you can help me I'm in need of some serious help. I can't seem to get the figures right.

    Required: Prepare a multiple-step income statement with earnings per share disclosure.

    Plano Co. 12/31/2006
    Partial Trail Balance Data
    Debits Credits

    Sales revenue 700,000
    Interest revenue 60,000
    Gain on sale of land (infrequent but not unusual item) 110,000
    Cost of goods sold 500,000
    Salaries and wages 150,000
    Depreciation expense 40,000
    Interest expense 30,000
    Marketing and administrative expenses 60,000
    Plano had 50,000 shares of stock outstanding throughout the year. Its effective tax rate is 30%.
    house lady's Avatar
    house lady Posts: 3, Reputation: 1
    New Member
    		  
    #2

    Nov 9, 2007, 09:16 PM
    Hello, I have been trying to prepare a multiple step income statement I hope that you can help me I'm in need of some serious help. I can't seem to get the figures right.

    Required: Prepare a multiple-step income statement with earnings per share disclosure.

    Plano Co. 12/31/2006
    Partial Trail Balance Data
    Debits Credits

    Sales revenue 700,000
    Interest revenue 60,000
    Gain on sale of land (infrequent but not unusual item) 110,000
    Cost of goods sold 500,000
    Salaries and wages 150,000
    Depreciation expense 40,000
    Interest expense 30,000
    Marketing and administrative expenses 60,000
    Plano had 50,000 shares of stock outstanding throughout the year. Its effective tax rate is 30%
    house lady's Avatar
    house lady Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Nov 9, 2007, 09:21 PM
    Hello, I have been trying to prepare a multiple step income statement I hope that you can help me I'm in need of some serious help. I can't seem to get the figures right.

    Required: Prepare a multiple-step income statement with earnings per share disclosure.

    Plano Co. 12/31/2006
    Partial Trail Balance Data
    Debits Credits

    Sales revenue 700,000
    Interest revenue 60,000
    Gain on sale of land (infrequent but not unusual item) 110,000
    Cost of goods sold 500,000
    Salaries and wages 150,000
    Depreciation expense 40,000
    Interest expense 30,000
    Marketing and administrative expenses 60,000
    Plano had 50,000 shares of stock outstanding throughout the year. Its effective tax rate is 30%
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