The trial balance of Kroeger Inc. included the following accounts as of December 31, 2018:

Kroeger had 300,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%.
-Required: Prepare a 2018 single, continuous statement of comprehensive income for Kroeger Inc. Use a multiple-step income statement format.

Question

The trial balance of Kroeger Inc. included the following accounts as of December 31, 2018:

Kroeger had 300,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%.
-Required: Prepare a 2018 single, continuous statement of comprehensive income for Kroeger Inc. Use a multiple-step income statement format.

Quizplus · Accepted Answer

The Answer of The trial balance of Kroeger Inc. included the following accounts as of December 31, 2018:

Kroeger had 300,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%.
-Required: Prepare a 2018 single, continuous statement of comprehensive income for Kroeger Inc. Use a multiple-step income statement format.

The Trial Balance of Kroeger Inc