Catena's Marketing Company has the following adjusted trial balance at the end of the current...
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Accounting
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $650 were declared at the end of the year, and 620 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,480 in cash (for a total at the end of the year of 820 shares). These effects are included below:
Catenas Marketing Company | ||||||||
Adjusted Trial Balance | ||||||||
End of the Current Year | ||||||||
Debit | Credit | |||||||
Cash | $ | 1,570 | ||||||
Accounts receivable | 2,230 | |||||||
Interest receivable | 230 | |||||||
Prepaid insurance | 1,760 | |||||||
Long-term notes receivable | 2,860 | |||||||
Equipment | 16,500 | |||||||
Accumulated depreciation | $ | 2,880 | ||||||
Accounts payable | 2,320 | |||||||
Dividends payable | 650 | |||||||
Accrued expenses payable | 3,900 | |||||||
Income taxes payable | 2,670 | |||||||
Unearned rent revenue | 430 | |||||||
Common Stock (820 shares) | 82 | |||||||
Additional paid-in capital | 3,528 | |||||||
Retained earnings | 4,200 | |||||||
Sales revenue | 37,250 | |||||||
Interest revenue | 170 | |||||||
Rent revenue | 580 | |||||||
Wages expense | 18,600 | |||||||
Depreciation expense | 1,770 | |||||||
Utilities expense | 360 | |||||||
Insurance expense | 710 | |||||||
Rent expense | 9,300 | |||||||
Income tax expense | 2,770 | |||||||
Total | $ | 58,660 | $ | 58,660 | ||||
Prepare a multistep income statement for the current year. (Round your earnings per share to 2 decimal places. )
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