Ex 4-4 & Solution - ACCY 301 SPRING 2016 E44 Multiplestep...

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ACCY 301 – SPRING 2016 E 4–4 Multiple-step  continuous  statement of  comprehensive  income   LO4–1 ,   LO4–5 , 6 The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following income accounts: Account Title Debits Credits Sales revenue 2,300,000 Cost of goods sold 1,400,000 Selling and administrative expenses 420,000 Interest expense 40,000 Unrealized holding gains on investment securities 80,000 The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 30%. One million shares of common stock were outstanding throughout 2016. Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2016, including appropriate EPS disclosures .   LO4–
ACCY 301 – SPRING 2016 Exercise 4–4 LINDOR CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2016 Sales revenue .................................................................... $2,300,000 Cost of goods sold ............................................................

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