Prepare a multiple-step income statement for 2013 applying

Extraordinary gain

Net Income

The following incorrect income statement was prepared by the accountant of the Axel Corporation:

AXEL CORPORATION Income Statement For the Year Ended December 31, 2013
Revenues and gains:
Sales			$	640,000
Interest and dividends				35,000
Gain from litigation settlement				85,000

Total revenues and gains				760,000
Expenses and losses:
Cost of goods sold	$	345,000
Selling expenses		62,000
Administrative expenses		84,000
Interest		30,000
Restructuring costs		59,000
Income taxes		72,000

Total expenses and losses				652,000

Net Income			$	108,000

Earnings per share			$	1.08

Required:
Prepare a multiple-step income statement for 2013 applying generally accepted accounting principles. The income tax rate is 40%. The gain from litigation settlement is considered an unusual and infrequent event and the amount is material. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)

The sudbury south carolina plant of saldanha sports : the sudbury south carolina plant of saldanha sports companyhas the following standards for tis soccer ball

Irrespective of how capital assets are aquired they are : 1. irrespective of how capital assets are aquired they are recorded differently in overnmental funds than in business.

In bernoulli trials p let vn be the number of trials : in bernoulli trials p let vn be the number of trials required to produce either n successes or n failures whichever

On january 2 richie valens pauid 24000 for 980 shares of : on january 2 richie valens pauid 24000 for 980 shares of the common stock of acme company. mr. valens recieved an 0.84

Prepare a multiple-step income statement for 2013 applying : extraordinary gainnet incomethe following incorrect income statement was prepared by the accountant of the axel

The company must maintain a minimum cash balance of 25000 a : the following information is used for luckys inc.s monthly master budget. junes balance sheet

C owns 60 shares and d owns 40 shares of z corporation : c owns 60 shares and d owns 40 shares of z corporation representing all of the outstanding shares. c and d are

The following results are for two independent samples taken : consider the following hypothesis test.h0 u1-u2 0ha u1-u2 not equal to 0the following results are for two independent

C owns 60 shares and d owns 40 shares of z corporation : c owns 60 shares and d owns 40 shares of z corporation representing all of zs outstanding shares. c and d are unrelated