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Presented below is information related to XYZ Corporation at 12/21/2018:
Sales Revenue 980,000
Gain on Sale of plant Assets
Unrealized gain on avaliable for sale securities
Unrealized gain in value of the corporations office building 25,000
Interest Expense 12,000
Rent Revenue 18,000
Selling Expenses 75,000
Loss of discontinued operations 50,000
Write-off of goodwill 2,000
Administrative Expenses 65,000
Cost of Goods Sold 500,000
Depreciation Expese overstated by accident in 2017 10,000
Preferred Dividends declared (of which $5,000 will be paid in 01/2019 20,000
Common dividends declared (of which $12,500 will be paid in 01/2019 50,000
Retained Earnings as reported 1/1/18
Weighted Average Prefferred shares outstanding 50,000
Weighted Average common stock shares outstanding 100,000
Tax Rate 20%
Instructions: Prepare the following financial statement for the period ending 12/31/2018:
1.) Multi step income statement
2.) Comprehensive income statement
3.) Statement of Retained Earnings
Please calculate EPS for IFCO, DOPS , NI and CI
Answer & Explanation
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