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Exercise 4-06 The following balances were taken from the books of Nash Corp. on December...

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Accounting

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Exercise 4-06 The following balances were taken from the books of Nash Corp. on December 31, 2020. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87,050 52,050 1,381,050 151,050 21,050 151,050 8,050 46,050 101,050 201,050 141,050 622,050 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings $41,050 29,050 156,050 195,050 171,050 101,050 98,050 33,050 61,050 101,050 151,050 501,050 22,050 Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) NASH CORP. Income Statement Per share of common stock: SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT

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