Grouper Corporation had net sales revenue of $5,750,000 and investment revenue of $224,000 for the...
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Grouper Corporation had net sales revenue of $5,750,000 and investment revenue of $224,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: Cost of goods sold $4,610,000 Salaries and wages expense (sales) 438,000 Advertising expense 126,000 Entertainment expense 77,000 Selling expenses 641,000 Salaries and wages expense (administrative) 304.000 Rent expense 101,000 Utilities expense 40,000 Administrative expenses 445,000 Increase in value of company reputation 70,000 Unrealized gain on value of patents 36,000 Interest expense 164,000 Income tax expense 83,000 Grouper has 100,000 common shares outstanding throughout the year. Prepare a multiple-step income statement for Grouper Corporation, showing expenses by function. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.75.) Grouper Corporation Income Statement $ > $
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