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(Multiple-step Statement with Retained Earnings) Presented below is information related to Ivan Calderon Corp. for the year 2004.
Net sales $1,300,000 Write-off of inventory due to obsolescence $ 80,000Cost of goods sold 780,000 Depreciation expense omitted by accident in 2003 55,000Selling expenses 65,000 Casualty loss (extraordinary item) before taxes 50,000Administrative expenses 48,000 Dividends declared 45,000Dividend revenue 20,000 Retained earnings at December 31, 2003 980,000Interest revenue 7,000 Effective tax rate of 34% on all items
(a) Prepare a multiple-step income statement for 2004. Assume that 60,000 shares of common stock are outstanding.
(b) Prepare a separate retained earnings statement for 2004.
Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 15 percent.
q1 what are giannas ethical responsibilities? if any with respect to the information she has learned through her duties
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The following calendar year information about the Tahoma Corporation is available on December 31: The company applies overhead on the basis of 125% of direct labor costs. Calculate the amount of over- or underapplied overhead
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