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Prepare a multiple-step income statement

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Reference no: EM131800018

Question - The accounts of Consolidated Can contain the following amounts at December 31, 2008:

Cost of products sold $410,000

Dividends 3,000

Extraordinary gain (net of tax) 1,000

Income taxes 9,300

Interest expense 8,700

Other income 1,600

Retained earnings, 1/1 270,000

Sales 480,000

Selling and administrative expense 42,000

Required - Prepare a multiple-step income statement combined with a reconciliation of retained earnings for the year ended December 31, 2008.

Reference no: EM131800018

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