Business, 12.10.2020 14:01 martinbricein10

Presented below is information related to Bonita Corp. for the year 2017. Net sales $1,392,100 Write-off of inventory due to obsolescence $81,030
Cost of goods sold 780,300 Depreciation expense omitted by accident in 2016 45,000
Selling expenses 74,600 Casualty loss 51,800
Administrative expenses 52,500 Cash dividends declared 41,740
Dividend revenue 27,800 Retained earnings at December 31, 2016 889,370
Interest revenue 7,120
Effective tax rate of 34% on all items
1- Prepare a multiple-step income statement for 2017. Assume that 55,620 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e. g. 1.49.)
2- Prepare a separate retained earnings statement for 2017. (List items that increase adjusted retained earnings first.)

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Presented below is information related to Bonita Corp. for the year 2017. Net sales $1,392,100 Writ...

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