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Show four earnings per share calculations




Exercise: Shown below are the accounts of Coyote Corporation for 2014.;Telephone and Internet expense (administrative) $ 20,000;Sales commissions 145,000;Sales revenue 885,000;Rent revenue 11,000;Office salary expenses 195,000;Major casualty loss (extraordinary item) 50,000;Loss on sale of equipment 3,000;Loss on disposal of a component of the business 30,000;Interest expense 13,000;Investment revenue 19,500;Dividend received 1,200;Cost of goods sold 408,500;Advertising expense 2,500;Required;Prepare a multiple-step income statement for 2014 for Coyote Corporation that is presented in accordance with generally accepted accounting principles (including format and terminology). Coyote Corporation has 50,000 shares of common stock outstanding and has a 30% federal income tax rate on all tax related items. Round all earnings per share figures to the nearest cent. Show four earnings per share calculations.;[Note: Special items are not ?net of tax?.]


Paper#23576 | Written in 18-Jul-2015

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