I need to create a multi step income statement and statement of
retained earnings with the following information ( assume a 30% tax
rate and 500,000 shares of common stock)
Accounts Receivable
$555,000
Accumulated Depr.-equipment
450,000
Accumulated
Depr.-buildings
360,000
Allowance for doubtful
accts.
36,000
Common
Stock
2,000,000
Depreciation Expense (equipment)
50,000
Depreciation Expense (buildings)
60,000
Dividends (common
stock)
120,000
Dividends
Payable
30,000
Insurance
Expense
35,000
Interest
Expense
40,000
Interest
Payable ...