Business
Business, 18.02.2021 21:00, LittlestRedTeal8940

Presented below is information related to Metlock Corp. for the year 2020. Net sales $1,274,000 Write-off of inventory due to obsolescence $78,400
Cost of goods sold 764,400 Depreciation expense omitted by accident in 2019 53,900
Selling expenses 63,700 Casualty loss 49,000
Administrative expenses 47,040 Cash dividends declared 44,100
Dividend revenue 19,600 Retained earnings at December 31, 2019 960,400
Interest revenue 6,860 Effective tax rate of 20% on all items
Prepare a multiple-step income statement for 2017. Assume that 62,370 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e. g. 1.49.)

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Presented below is information related to Metlock Corp. for the year 2020. Net sales $1,274,000 Wri...

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