The following information is related to Swifty Company for 2020. Retained earnings balance, January 1, 2020 $921,200
Sales Revenue 23,500,000
Cost of goods sold 15,040,000
Interest revenue 65,800
Selling and administrative expenses 4,418,000
Write-off of goodwill 770,800
Income taxes for 2020 1,169,360
Gain on the sale of investments 103,400
Loss due to flood damage 366,600
Loss on the disposition of the wholesale division (net of tax) 413,600
Loss on operations of the wholesale division (net of tax) 84,600
Dividends declared on common stock 235,000
Dividends declared on preferred stock 75,200

Swifty Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Swifty sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year.

Required:
Prepare a multiple-step income statement.

The chromosome manufacturing company produces two products, x and y. the company president, jean mutation, is concerned about the fierce competition in the market for product x. she notes that competitors are selling x for a price well below chromosome's price of $13.50. at the same time, she notes that competitors are pricing product y almost twice as high as chromosome's price of $12.50.ms. mutation has obtained the following data for a recent time period: product x product y number of units 11,000 3,000 direct materials cost per unit $3.23 $3.09 direct labor cost per unit $2.22 $2.10 direct labor hours 10,000 3,500 machine hours 2,100 1,800 inspection hours 80 100 purchase orders 10 30ms. mutation has learned that overhead costs are assigned to products on the basis of direct labor hours. the overhead costs for this time period consisted of the following items: overhead cost item amount inspection costs $16,200 purchasing costs 8,000 machine costs 49,000 total $73,200using direct labor hours to allocate overhead costs determine the gross margin per unit for product x. choose the best answer from the list below. a. $1.93b. $3.12c. $7.38d. $2.43e. $1.73using activity-based costing for overhead allocation, determine the gross margin per unit for product y. choose best answer from list below. a. $10.07b. ($2.27)c. ($5.23)d. ($7.02)e. $7.02