schuch company presents you with the following account balances taken from its decem 4373973

Schuch Company presents you with the following account balances taken from its December 31, 2016, adjusted trial balance: Additional data: 1. A physical count reveals an ending inventory of $22,500 on December 31, 2016. 2. Twenty-five thousand shares of common stock have been outstanding the entire year. 3. The income tax rate is 30% on all items of income. Required: 1. As a supporting document for Requirements 2 and 3, prepare a separate schedule for Schuch’s cost of goods sold. 2. Prepare a 2016 multiple-step income statement. 3. Prepare a 2016 single-step income statement. View Solution:
Schuch Company presents you with the following account balances taken

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