05-9P_NBJ11e - P5-9 Name: 1. Prepare a multiple-step format...

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Unformatted text preview: P5-9 Name: 1. Prepare a multiple-step format income statement by filling in the line items and amounts in the shaded cells. An asterisk (*) will appear next to an incorrect amount in specific cells. OLSEN COMPANY Income Statement For Year Ended December 31, 2010 Operating expenses Total operating expenses Other items Pretax income from continuing operations Income from continuing operations Results from discontinued operations Income before extraordinary items Components of Income Income from continuing operations Results from discontinued operations Extraordinary loss due to earthquake Net Income Earnings per common share (8,000 shares) 2. Prepare a retained earnings statement by filling in the line items and amounts in the shaded cells. An asterisk (*) will appear next to an incorrect amount in the specific cells. OLSEN COMPANY Statement of Retained Earnings For Year Ended December 31, 2010 Retained Earnings, January 1, 2010 Retained earnings, December 31, 2010 ...
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05-9P_NBJ11e - P5-9 Name: 1. Prepare a multiple-step format...

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