as a supporting document for requirements 2 and 3 prepare a separate schedule for en 563047

Cost of Goods Sold, Income Statement, and Statement of Comprehensive Income The Engle Company lists the following accounts on its adjusted trial balance as of December 31, 2007.

Sales

$147,100

Purchases returns

5,200

Gain on sale of equipment (pretax)

3,800

Freight in

3,400

Selling expenses

15,600

Unrealized increase in value of available for sale securities

2,400

Interest revenue

$3,300

Purchases discounts taken

2,700

Inventory, January 1, 2007

12,100

Sales returns

8,100

Purchases

89,700

Administrative expenses

24,200

Extraordinary loss (pretax)

6,500

The following additional information is also available. The December 31, 2007, ending inventory is $14,700. During 2007, 4,200 shares of common stock were outstanding the entire year. The income tax rate is 30% on all items of income.

Required

1. As a supporting document for Requirements 2 and 3, prepare a separate schedule for Engle Company’s cost of goods sold.

2. Prepare a 2007 single step income statement.

3. Prepare a 2007 multiple step income statement.

4. Prepare a 2007 statement of comprehensive income.

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