Respuesta :
Answer:
Dibb Company
Income Statement
December 31, 2016
Revenues and gains
Sales revenues (net) $198,000
Total revenues and gains $198,000
Expenses and losses
Cost of goods sold ($130,000)
Loss on sale of land ($5,000)
Total expenses and losses ($135,000)
Net income before taxes $63,000
Income taxes ($18,900)
Net income $44,100
Explanation:
A multi-step income statement uses multiple calculations to determine the company's net income, therefore, it is more detailed than single step income statements. In this case, the accounts included were really few, so the income statement is relatively simple.
Answer:
See the explanation below.
Explanation:
DIBB COMPANY
Income Statement (Multiple-Step)
For Year Ended December 31, 2016
Details Amount ($)
Sales (net) 198,000
Cost of goods sold (130,000)
Gross profit 68,000
Operating expenses (45,000)
Operating profit before tax 23,000
Tax (23,000 * 30%) (6,900)
Profit after tax 16,100
Loss on sale of land (5,000)
Profit for the year 11,100
Earning per share (11,100/12,000) 0.93
