At January 1, 2013, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock. During the year, they issued 40,000 additional shares of common stock. At December 31, 2013, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2013:
Please prepare a multi-step income statement from the above data. Do not include earnings per share information.

Question

At January 1, 2013, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock. During the year, they issued 40,000 additional shares of common stock. At December 31, 2013, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2013:
  Please prepare a multi-step income statement from the above data. Do not include earnings per share information.

Quizplus · Accepted Answer

The Answer of At January 1, 2013, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock. During the year, they issued 40,000 additional shares of common stock. At December 31, 2013, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2013:
  Please prepare a multi-step income statement from the above data. Do not include earnings per share information.

At January 1, 2013, Foxmore Company Had 80,000 Shares of Common