You may use the attached spreadsheet to help you complete this activity, but you are not required to do so You will find the spreadsheet by clicking on
the green Excel icon in the upper left hand corner of the activity.
Simple Income Statement
The following are selected items derived from Dibb Company's adjusted trial balance on December :
Loss on sale of land $
Cost of goods sold $
Sales net $
Operating expenses $
shares of common stock were outstanding the entire year.
Required:
Assuming a income tax rate on all items of income, prepare a income statement for Dibb's Company using a multiplestep format. Round
earnings per share computations to two decimal places.
DIBB Company
Income Statement MultipleStep
For Year Ended December
Assuming a income tax rate on all items of income, prepare a income statement for Dibb's Company using a singlestep format. Round
earnings per share computations to two decimal places.
DIBB Company
Income Statement SingleStep
For Year Ended December
