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Prepare in good form a multiple-step income statement

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Question: Information related to Batavia Furniture Company for the year ended December 31, 2009, follows.

Cost of Goods Sold

$ 70,000

Dividends Declared

5,000

Flood Loss (pre-tax)

12,000

General Expense

8,000

Other Income

9,000

Other Expense

11,000

Retained Earnings, January 1, 2009

116,000

Sales

131,000

Selling Expense

7,000

Required: Prepare in good form a multiple-step income statement for the year 2009. Assume a 50% tax rate and that 5,000 shares of common stock were outstanding during the year.

Reference no: EM131969488

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