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Exercise 4-7 The accountant of Flint Shoe Co. has compiled the following information from the...

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Accounting

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Exercise 4-7 The accountant of Flint Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2017 Rent revenue Interest expense Market appreciation on land above cost Salaries and wages expense seing) Supplies expense (selling) Income tax Salaries and wages expense (administrative) Other administrative expenses Cost of goods sold Net sales Depreciation on plant assets (70% selling, 30% administrative) 66,300 Cash dividends declared $30,300 19,300 32,300 116,100 18,900 38,700 137,200 53,000 497,300 981,300 17,300 There were 21,780 shares of common stock outstanding during the year

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