ACC – The financial records of Dunbar Inc.

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Description

The financial records of Dunbar Inc. were destroyed by fire at the end of 2012
kept certain statistical data related to the income statement as presented belo
1. The beginning merchandise inventory was $97,400 and decreased

2. Sales discounts amount to $24,400.

3. 29,500 shares of common stock were outstanding for the entire year.

4. Interest expense was $22,500.

5. The income tax rate is 30%.

6. Cost of goods sold amounts to $514,000.

7. Administrative expenses are 18% of cost of goods sold but only

8. Four­fifths of the operating expenses relate to sales activities.

From the foregoing, information, prepare an income statement for the year 20 earnings per share to 2 decimal places, e.g. $1.48 and all other answers DUNBAR INC.
Income Statement
For Year Ended December 31, 2012

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