Business, 06.06.2020 22:58 lberries08

Multiple-Step and Single-Step Income Statements, and Statement of Comprehensive Income On December 31, 2019, Opgenorth Company listed the following items in its adjusted trial balance: Loss from fire (pretax) $8,000 General and administrative expenses $17,000 Interest revenue 2,500 Sales 160,000 Selling expenses 14,000 Unrealized decrease in fair value of Cost of goods sold 95,000 available-for-sale securities 1,800 Loss on sale of equipment (pretax) 2,000 Additional data: Seven thousand shares of common stock have been outstanding the entire year. The income tax rate is 30% on all items of income. Required: 1. Prepare a 2019 multiple-step income statement. Round earnings per share to two decimal places. OPGENORTH COMPANY Income Statement For Year Ended December 31, 2019 $ $ Operating expenses $ $ Other items $ $ $ Components of Income EPS $ 2. Prepare a 2019 single-step income statement. Round earnings per share to two decimal places. OPGENORTH COMPANY Income Statement For Year Ended December 31, 2019 Revenues $ Total revenues $ Expenses $ Total expenses $ Components of Income EPS $ 3. Prepare a 2019 statement of comprehensive income. OPGENORTH COMPANY Statement of Comprehensive Income For Year Ended December 31, 2019 $ Other comprehensive loss $

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