Presented below is information related to Donaldson Corp., (a publicly traded company) for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue Interest expense Write-off of goodwill due to impairment Depreciation expense omitted in 2019 Dividends declared $1,950,000 1,200,000 95,000 70,000 30,000 20,000 45,000 75,000 105,000 100,000 Net loss associated with the closing of the company's Mining operation that is considered a distinct segment of The business 220,000 Federal tax rate of 35% on all items Instructions Prepare a multiple-step income statement for 2020. Assume the 200,000 shares of common stock were outstanding during 2020.

Indigo Company is in the process of preparing its financial statements for 2020. Assume that no entries for depreciation have been recorded in 2020. The following information related to depreciation of fixed assets is provided to you. 1. 2. 3. 2019 2018 Straight-line $29.700 $29,700 Declining-balance 52.800 66,000 (a) Indigo purchased equipment on January 2, 2017, for $89,600. At that time, the equipment had an estimated useful life of 10 years with a $4,600 salvage value. The equipment is depreciated on a straight-line basis. On January 2, 2020, as a result of additional information, the company determined that the equipment has a remaining useful life of 4 years with a $2,800 salvage value 1. During 2020, Indigo changed from the double-declining-balance method for its building to the straight-line method. The building originally cost $330,000. It had a useful life of 10 years and a salvage value of $33,000. The following computations present depreciation on both bases for 2018 and…

Big Corp. has been undergoing liquidation since December 1, 2020. As of July 31, 2021, the following data are available: P1,500,000 Liabilities not liquidated Liabilities to be liquidated P1,700,000 Assets acquired Assets realized P2,400,000 P2,250,000 Assets not realized P1,375,000 Liabilities assumed P2,625,000 Assets to be realized P2,750,000 Liabilities liquidated P1,750,000 Supplementary charges/debits P2,750,000 Supplementary credits P3,800,000 Answer the following questions: (answers can be repeated) Compute the ending cash balance of cash account (as of July 31, 2021) assuming that Choose... common stock and deficits are P2,750,000 and P750,000, respectively. What is the net gain/(loss) of Big Corp. from the liquidation? Choose...

On Pina's multiple - step income statement for 2023, income from continuing operations is: Select answer from the options below a) $17395. b) $24850. c)$40400. d) $17780.

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please dont provide answer in image format thak you