Required: 1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.) Sales Costs and expenses 2022 2023 2024 $ 477,855 $ 698,040 $1,009,900 329,070 Profit from continuing operations $ 314,935 Gain (loss) on discontinued operations 83,160 (110,075) Profit (loss) $ 155,994 $ 535,700 Information on Common Shares for Ace Group Inc." Shares outstanding on December 31, 2021 34,300 Purchase and retirement of shares on March 1, 2022 3,980 Sale of shares on June 1, 2022 14,680 Share dividend of 5% on August 1, 2022 Shares outstanding on December 31, 2022 Sale of shares on February 1, 2023 6,860

Required: 1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.) Sales Costs and expenses 2022 2023 2024 $ 477,855 $ 698,040 $1,009,900 329,070 Profit from continuing operations $ 314,935 Gain (loss) on discontinued operations 83,160 (110,075) Profit (loss) $ 155,994 $ 535,700 Information on Common Shares for Ace Group Inc." Shares outstanding on December 31, 2021 34,300 Purchase and retirement of shares on March 1, 2022 3,980 Sale of shares on June 1, 2022 14,680 Share dividend of 5% on August 1, 2022 Shares outstanding on December 31, 2022 Sale of shares on February 1, 2023 6,860

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Wildhorse, Inc. has the following data for the year ended December 31, 2025: Net sales Loss on discontinued operations Cost of goods sold Interest expense Selling expenses Administrative expenses $271,900 23,000 165,000 5,400 15,300 36,230 The company has average shares of capital stock outstanding of 20,000 for the year and a tax rate of 20% on all items. Prepare a multiple-step income statement for Wildhorse, Inc. for the year ended December 31, 2025. (Round earnings per share answers to 2 decimal places, e.g. 5.25.)
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