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  3. the following incorrect income statement was prepa

The following Incorrect income statement was prepared by the accountant of the Axel Corporation: AXEL...

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Accounting

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The following Incorrect income statement was prepared by the accountant of the Axel Corporation: AXEL CORPORATION Income Statement For the Year Ended December 31, 2e18 Revenues and gains: Sales Interest and dividends Gain on sale of investments $77e,0ee 58,88e 97,080 917,000 Total revenues and gains Expenses and losses: Cost of goods sold Selling expenses Administrative expenses Interest Restructuring costs Income taxes $415,0ee 77,9e0 97,9e8 44,9ee 73,9ee 84 400 Total expenses and losses 79,4ea $126,6ee S1.2 Net Income Earnings per share Requlred: Prepare a multiple-step income statement for 2018 applying generally acceptec accounting principles. The income tax rate is 40%. Amounts t be deducted should be indicated with a minus sign. Round EPS answer to 2 cecimel pleces.) ncoma tx rate is noome Statement For the Year Ended December 31, 2018 0 0 0 0 Eamings per share

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