The following information is available for Larkspur, Inc. for the year 2017. Administrative expense Officers’ salaries $ 11,700 Depreciation of office furniture and equipment 8,050
The following information is available for Larkspur, Inc. for the year 2017. Administrative expense Officers’ salaries $ 11,700 Depreciation of office furniture and equipment 8,050 Cost of goods sold 121,480 Rent revenue 2,400 Selling expense Delivery expense 4,600 Sales commissions 16,920 Depreciation of sales equipment 13,500 Sales revenue 209,000 Income tax 12,560 Interest expense 3,240 Common shares outstanding for 2017 total 23,000 (000 omitted). Transcribed Image Text: Prepare an income statement for Larkspur Inc. for the year 2017 using the multiple-step form. (Round earnings per share to 2
decimal places, e.g. 1.48.)
For the Year Ended December 31, 2017
(In thousands, except earnings per share)
Profit / (Loss)
%24 Transcribed Image Text: Administrative Expenses
e From Operations
Revenues and Gains
Expenses and Losses
e Before Income Tax
e Tax Expense
come / (Loss)
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