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Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2014. Expenses for 2014 were cost of goods sold $1,450,000; administrative expenses $212,000; selling expenses $280,000; and interest expense $45,000. Brisky's tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 70,000 shares issued and outstanding during 2014.
Prepare a single-step income statement for the year ended December 31, 2014.
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Prepare the income statement of owner's equity for the calendar year 2009 and the classified balnace sheet at December 31, 2009. Prepare the necessary closing entries at December 31, 2009.
On January 1, 2010, the board of directors of Goby Inc. declared a $540,000 dividend. The following data are from the balance sheet of Goby on that date:How much is the liquidating dividend
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