Hendrick, Inc. has the following data for the year ended December 31, 2020. All items...
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Hendrick, Inc. has the following data for the year ended December 31, 2020. All items are before income tax expense. Net sales....... $ 270,000 Loss on operations of the discontinued segment. 20,000 Gain on sale of assets of discontinued segment 60,000 Cost of goods sold. 165,000 Interest expense. 3,000 Selling expenses 15,000 Administrative expenses 35,000 Net Income from continuing operations 125,000 Common Stock dividends declared 10,000 Shares of common stock outstanding all year, 10.000 Tax rate of 30% on all items Using only relevant information, prepare a partial income statement beginning with Net Income from Continuing Operations before Tax Income statement must be in proper accounting format and include all necessary information Carry per share information to two decimal places Hint: All items are correct as is. Do not adjust Net Income from Continuing Operations. If an item listed comes prior to that subtotal, you can assume that it was correctly accounted for and therefore can ignore it here
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