Coronado Ltd. had sales revenue of £ 550,800 in 2022. Other items recorded during the year were:Cost of goods sold £ 336,600Selling expenses 122,400Income tax 25,500Increase in value of employees 15,300Administrative expenses 10,200Prepare an income statement for Coronado for 2022. Coronado has 100,000 shares outstanding. (Round earnings per share to 2 decimal places, e.g. 1.48.)CORONADO LTDIncome Statementchoose the accounting period enter an income statement item £ enter a pound amountenter an income statement item enter a pound amountselect a summarizing line for the first part enter a total amount for the first partenter an income statement item £ enter a pound amount enter an income statement item enter a pound amount enter a subtotal of the two previous amountsselect a summarizing line for the second part enter a total amount for two partsenter an income statement item enter a pound amountselect a closing name for this statement £ enter a total net income or loss amount select an income statement item £ enter a pound amount rounded to 2 decimal places

The income statement represents the net income or net loss that is calculated by deducting the…

Answered: Coronado Ltd. had sales revenue of £…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.8E: Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of...

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Question

Coronado Ltd. had sales revenue of £ 550,800 in 2022. Other items recorded during the year were:

Cost of goods sold		£ 336,600
Selling expenses		122,400
Income tax		25,500
Increase in value of employees		15,300
Administrative expenses		10,200

Prepare an income statement for Coronado for 2022. Coronado has 100,000 shares outstanding. (Round earnings per share to 2 decimal places, e.g. 1.48.)

CORONADO LTD Income Statement choose the accounting period
enter an income statement item		£ enter a pound amount
enter an income statement item		enter a pound amount
select a summarizing line for the first part		enter a total amount for the first part
enter an income statement item	£ enter a pound amount
enter an income statement item	enter a pound amount
		enter a subtotal of the two previous amounts
select a summarizing line for the second part		enter a total amount for two parts
enter an income statement item		enter a pound amount
select a closing name for this statement		£ enter a total net income or loss amount

select an income statement item		£ enter a pound amount rounded to 2 decimal places