Prepare a partial income statement beginning with income

Reference no: EM13586681

Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014.

Cash		$50,000
Administrative expenses		100,000
Selling expenses		80,000
Net sales		540,000
Cost of goods sold		210,000
Cash dividends declared (2014)		20,000
Cash dividends paid (2014)		15,000
Discontinued operations (loss before income taxes)		40,000
Depreciation expense, not recorded in 2013		30,000
Retained earnings, December 31, 2013		90,000
Effective tax rate 30%

(a)Compute net income for 2014.

(b) Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 10,000 shares of common stock were outstanding during 2014.

Reference no: EM13586681

Questions Cloud

Dayton corporation purchased 1000 shares of kart common : dayton corporation purchased 1000 shares of kart common stock at 77 per share plus 2000 brokerage fees as a short-term

Write a vector expression for the balls position as a : a golf ball is hit off a tee at the edge of a cliff. its x and y coordinates as functions of time are given by the

Using replacement analysis decide when the company should : a large electronics manufacturing company is considering starting a new production line to replace an existing old

Parrish plumbing provides plumbing services to residential : parrish plumbing provides plumbing services to residential customers from monday through friday. ken parrish the owner

Prepare a partial income statement beginning with income : presented below are selected ledger accounts of tucker corporation as of december 31 2014.cash50000administrative

What is the system that is buffered what is the ph of the : what is the system that is buffered? what is the ph of the system? what compounds are responsible for the buffered

Custome truck bilders frequently uses long term lease : custome truck bilders frequently uses long term lease contracts to finance the sale of its trucks. on november 1 2011

How high in terms of if would these rocks go if a volcano : a certain volcano on earth can eject rocks vertically to a maximum height h.a how high in terms of if would these rocks

Armstrong corporation manufactures bicycle parts the : armstrong corporation manufactures bicycle parts. the company currently has a 20400 inventory of parts that have become

User Account

All Pages