prepare multistep income statement

operating expenses

operating expenses --Selling Expenses ----(95000) --Adminstrative expenses (70,000)-------------(165,000) ----Income from Operations=-------------------523000

Earnings per share

--Income from continuing operations--------$1.21 --Loss from operations in disc ope-----------(0.64) --Gain from sale of land in disc com --------0.80

sales revenue

-sales returns -----------------------------------------1950000 -sales returns and allowences-------------------------(50,000) -sales discounts---------------------------------------(12,000) ----Net sales= 1888000

Net Income

1.37

Net income

410,400

Cost of Goods sold

COGS- ---------------------(1200000) = --Gross Proft-----------688,000

Other revenues and gains

Dividend Rev ------30,0000 Interest Rev------20,000= ------------50000

other expenses and losses

Intrest expenses---------(45000) Write-off goodwill due (75000) =-------------(120,000)

TITTLE

Mcdonald corporation income statement for the year ending december 31 2017

Discontunied operations

disc operations Loss from operarions in disc comp business ---(net of tax = 240,000x 20%= 48000)-------(192,000) Gain from sale of land in disc comp ---(net of tax = 300,000x20%=60,000)-------240,000-----= 48000

Income before income tax

income before income tax ------------------453000 ----income tax ------------------------------(90600) -----INcome from continuing operations ---= 362400