Business
Business, 07.10.2020 22:01, nothingworksoutforme

Sunland Corporation had net sales of $2,427,500 and interest revenue of $40,000 during 2020. Expenses for 2020 were cost of goods sold $1,465,500, administrative expenses $220,600, selling expenses $289,300, and interest expense $47,900. Sunland’s tax rate is 30%. The corporation had 103,100 shares of common stock authorized and 71,990 shares issued and outstanding during 2020. Prepare a condensed multiple-step income statement for Sunland Corporation. (Round earnings per share to 2 decimal places, e. g. 1.48.)

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Sunland Corporation had net sales of $2,427,500 and interest revenue of $40,000 during 2020. Expense...

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