Business, 16.09.2021 14:00 anahitrejo1

The following items are from the adjusted trial balance of Bailey Corp. on December 31, 2020. the end of its annual accounting period. Assume an average 25 income tax on al items. Weighted average shares of common stock outstanding for 2020 were 10,000 Sales revenue 164,700
Saling expenses 81600
Depreciation for the period 3600
General and administrative expenses110.000
Rent revenue 2,400
Interest revenue 900
Gain on sale of investment 2,000
Interest expense 1500
Cost of goods sold 130000
Lost on sale of investment 22000
Required:
Prepare a multiple-step income statement for the 12 months ended December 31, 2020, including the earnings per share disclosure. Assume that rent revenue is a nonoperating revenue.

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The following items are from the adjusted trial balance of Bailey Corp. on December 31, 2020. the en...

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