Determine the common shares outstanding

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Question - Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Tamarisk Company ($000 omitted).

Administrative expense

Officers' salaries $5,168

Depreciation of office furniture and equipment 4,228

Cost of goods sold 60,838

Rent revenue 17,498

Selling expense

Delivery expense 2,958

Sales commissions 8,248

Depreciation of sales equipment 6,748

Sales revenue 96,768

Income tax 9,338

Interest expense 2,128

Required - Determine the Common shares outstanding for 2020 total 29,224 (000 omitted).

Reference no: EM133121654

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