dolution
dolution.
Pelican Enterprises had the following account balances in its general ledger at June 30, 2004, the end of the company’s fiscal year. All adjusting entries (except for the accrual of income taxes at 30%) had been entered. The company had an average of 900,000 shares of common stock outstanding during the year.
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper NowRequired
A. Prepare an income statement in good form, including earnings per share information.
B. Have the closing entries been made to the accounting system? How can you tell? (Hint: You might want to review the accounting cycle in Chapter F3.)
C. What is the amount of net income available to common stockholders? Why is this important information?
D. Why do you think that GAAP require that gross profit, operating income, pretax income, and net income be separately disclosed?
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
