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After all of the transactions for the year ended December 31, 2015, had been postal [ncluding the transactions recorded part (1) and all adjusting entries), the data that follows were taken from the reconds of Equinox Products Income talement data: Advertising $150,000 Cost of merchandise sold 3,100,000 Dely experie 30,000 Depreciation expense-office buldings and equipment 30,000 Depreciation experse-stone baldegs and equipment 100,000 Gen nesse of nestments 4,900 Income from Pekberry Co. iwat 16,000 142,000 Interest expense 21,000 Interest revenue 8,720 Maceluneus adataive exper 1300 Miscele expense 14,000 Offcnt expense 50,000 office salaries exp 170,000 Office supplies expe 10,000 Sales 5.254.600 Comprehensive Problem 1 - CNOW Print Item Sales Sales commissions expense Sales salaries expense Store supplies expense 5,254,000 185,000 385,000 21,000 Retained earnings and balance sheet data: Accounts payable $194,300 Accounts receivable 545,000 Accumulated depreciation-office buildings and equipment 1,580,000 Accumulated depreciation-store buildings and equipment 4,126,000 Allowance for doubtful accounts 8,450 Available-for-sale investments (at cost) 260,130 Bonds payable, 5%, due in 10 years 500,000 Cash 246,000 Common stock, $20 par (400,000 shares authorized; 2,000,000 100,000 shares issued, 94,600 outstanding) Dividends Cash dividends for common stock 155,120 Cash dividends for preferred stock 100,000 Comprehensive Problem 1 - CNOW Cash dividends for preferred Stock Print Item 100,000 Goodwill 500,000 Income tax payable 44,000 Interest receivable 1,125 Investment in Pinkberry Co. stock (equity method) 1,009,300 Investment in Dream Inc. bonds (long term) 90,000 Merchandise inventory (December 31, 20Y5), at lower 778,000 of cost (FIFO) or market Office buildings and equipment Paid-in capital from sale of treasury stock Excess of issue price over par-common stock Excess of issue price over par-preferred stock 4,320,000 13,000 886,800 150,000 Preferred $1 stock, $80 par (30,000 shares authorized; 1,600,000 20,000 shares issued) Premium on bonds payable 19,000 Prepaid expenses 27,400 Retained earnings, January 1, 20YS 9,319,725 Store buildings and equipment 12,560,000 Treasury stock (5,400 shares of common stock at cost of 178,200 $33 per share) 178,200 $35 per share) Unitaluda (em) on alable-for-sale investment (6,500) Valuationowance for available for sale investments (6,500) On your own paper, in the working papers, or using a spreadsheet, prepare the following a. Prepare a multiple step income statement for the year ended December 31, 2015, concluding with camings per share. In computing earnings per share, soume that the average number of common shares outstanding was 100,000 and prefered dividends were $100,000. (Round earnings per share to the nearest cent.) Save your calculations and enter the requested amounts below b. Prepared eamings statement for the year ended December 31, 2015. Save your calculations and enter the requested amounts below. c. Prepare a balance sheet in resort form as of December 31, 2015. Save your calons and enter the requested amounts below If required, only use the minus sign to indicate loss before income tax, net loss, or a delict balance in retained earnings Gross pront Tutal seting expenses Total expenses Total operating expen Net other expenses and c come 1,554,000 685,000 257,500 1,152,500 401,500 68,000 469,500 Comprehensive Problem 1 - CNOW Income from operations Print Item 401,500 Net other expenses and income 68,000 Income tax 469,500 Net income 329,000 Earnings per common share (rounded to the nearest cent) 2.29 9,319,605 Retained earnings, January 1, 20Y5 Total current assets Investment in Dream Inc. bonds Total property, plant, and equipment Total assets Total current liabilities Net long-term liabilities Total liabilities Total paid-in capital preferred $1 stock Total paid-in capital common stock, $20 par Total paid-in capital Retained earnings, December 31, 20Y5 Total stockholders' equity UF A 90,000 12,560,000

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