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(TCO C) Presented below is information related to Square Company.;Retained earnings, December 31, 20X2 $2,750,000;Sales 2,000,000;Selling and administrative expenses 240,000;Hurricane loss (pre-tax) on plant (extraordinary item) 250,000;Cash dividends declared on common stock 33,600;Cost of goods sold 960,000;Gain resulting from computation error on depreciation charge in 20X1 (pre-tax) 2,000,000;Other revenue 80,000;Other expenses 50,000;Instructions: Prepare in good form a multiple-step income statement for the year 2011. Assume a 30% tax rate and that 100,000 shares of common stock were outstanding during the year


Paper#74153 | Written in 18-Jul-2015

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