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income statement

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assignment#1 Problem 4-6 Income statement presentation [LO4-1, 4-3, 4-4, 4-5] Rembrandt Paint Company had the following income statement items for the year ended December 31, 2016 ($ in 000s): Net sales $ 38,000 Cost of goods sold $ 20,500 Interest income 400 Selling and administrative expenses 4,500 Interest expense 750 Restructuring costs 2,800 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $3.6 million and a gain on disposal of the component’s assets of $6.0 million. 600,000 shares of common stock were outstanding throughout 2016. Income tax expense has not yet been recorded. The income tax rate is 40% on all items of income (loss). Required: Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.) assignment#2Exercise 4-4 Multiple-step continuous statement of comprehensive income [LO4-1, 4-5, 4-6] The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following income accounts: Account Title Debits Credits Sales revenue 2,340,000 Cost of goods sold 1,410,000 Selling and administrative expenses 419,000 Interest expense 41,000 Unrealized holding gains on investment securities 81,000 The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 40%. 1.1 million shares of common stock were outstanding throughout 2016. Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2016, including appropriate EPS disclosures. (Round EPS answers to 2 decimal places.) #3 Exercise 4-7 Income statement presentation; discontinued operations; restructuring charges [LO4-1, 4-3, 4-4] Esquire Comic Book Company had income before tax of $1,400,000 in 2016 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $390,000. The division generated before-tax income from operations from the beginning of the year through disposal of $580,000. Neither the loss on disposal nor the operating income is included in the $1,400,000 before-tax income the company generated from its other divisions. 2. The company incurred restructuring costs of $95,000 during the year. Required: Prepare a 2016 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 40%. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.)

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