Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 6.00

Van Corporation’

Corporate Income Statement

e12A. Business appliCation ? Components of Van Corporation’s income statement for the year ended December 31, 2014 follow. Recast the income statement in multi- step form, including allocating income taxes to appropriate items (assume a 30 percent income tax rate) and showing earnings per share figures (200,000 shares outstanding). (Round earnings per share figures to the nearest cent.)

 

 

Sales

$1,110,000

Cost of goods sold

(550,000)

Operating expenses

(225,000)

Restructuring

(110,000)

Total income taxes expense for period

(179,100)

Income from discontinued operations

160,000

Gain on disposal of discontinued operations

140,000

Extraordinary gain

72,000

Net income

$ 417,900

Earnings per share

$ 2.09

Answers

(5)
Status NEW Posted 06 Aug 2017 08:08 PM My Price 6.00

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