Multi-step and single step income statement and statement

Reference no: EM13602397

Multi-step and single step income statement and statement of comprehensive income on December 31,2010 the Adandt company listed the following items in it's adjusted trial balance.Extraordinary loss (pretax)$8,000, Interest revenue$2,500, sales revenue and allowances $3,000, Selling Expenses $14,000, Cost of goodssold $95,000 ,Loss on sale of equipment(pretax)$2,000,General and Administrative Expenses $17,000, Sales $ 163,000, Unrealized decrease in value of available for sale securities$1,800. Additional data 1. seven thousand shares of common stock have been outstanding the entire year.(2) The income tax rate is 30% on all items of income.

Required:

(1) Prepare a 2010 multi-step income statement .

(2) Prepare a 2010 single-step income statement.

(3) prepare a 2010 statement of comprehensive income.

Reference no: EM13602397

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