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Alpine, Inc. gathered the following information for its year ended December 31, 2017:

Please help with the questions below. You do not need to show your work.Screen Shot 2018-05-06 at 7.54.05 PM.pngScreen Shot 2018-05-06 at 7.54.10 PM.png

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Alpine, Inc. gathered the following information for its year ended December 31, 2017: Loss on fire in building 10,000
Write down of obsolete inventory 14,000
Administrative Expenses 247,000
Common Stock, $10 par 500,000
Cost of Goods Sold 1,300,000
Dividend Revenue 20,000
Common Stock Dividends paid 41,000
Gain on Sale of Equipment 11,000
Goodwill 147,000
Income Taxes Payable 13 ,000
Loss on Sale of Land 72,000
Preferred Stock Dividends paid 19,000
Note Payable - Current only 50,000
Gross Sales 2,250,000
Selling Expenses 194,000
Sales Discounts 3 ,000
Unearned Revenues 27,000
Interest expense 103 ,000
Sales returns 8,000 The common stock was outstanding the entire year and the company’s effective tax rate is
40%. The loss on fire in building was considered infrequent, but not unusual. Prepare a
multiple step income statement, including earnings per share, for the year ended
December 3 l, 2010.

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. The Gross Margin for Alpine Inc would be:
A) 955,000 B) 969,000 C) 939,000 D) 942,000 E) None of the above . The Income from Operations would be:
A) 404,000 B) 498,000 C) 511,000 D) 514,000 E) None of the above . The net amount of other revenues and expenses would be:
A) 154,000 B) (154,000) C) 140,000 D) (140,000) E) None of the above . Net Income, afler tax, would be:
A) 212,000 B) 215,000 C) 190,000 D) 201,000 E) None of the above . Earnings per share would be: A) 3.96
B) 3.58
C) 4.50
D) 2.71
E) None of the above

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