Prepare the income statement of Company D for the year 2019 using the following methods: 1. A multi-step format and 2. A single-step format.

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Accounting For the Year ended December 2019. Alaska company , reported net income of $ 4,200 on revenues of $ 56,000 . Interest expense totaled $ 400 , while preferred stock dividends totaled $ 200 . Average total assets for 2019 were $ 17,500 , and average total liabilities for 2019 were $ 9,000 . Average preferred shareholders ' equity totaled $ 2,000 . The income tax rate is 20 % . 4 The ROCE for Alaska company is A. 32.54 % B. 40.00 % C. 64.61 % D.61.63 %

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Chapter 5, Problem 1E

To determine

Prepare the income statement of Company D for the year 2019 using the following methods:

1. A multi-step format and

2. A single-step format.

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Accounting For the Year ended December 2019. Alaska company , reported net income of $ 4,200 on revenues of $ 56,000 . Interest expense totaled $ 400 , while preferred stock dividends totaled $ 200 . Average total assets for 2019 were $ 17,500 , and average total liabilities for 2019 were $ 9,000 . Average preferred shareholders ' equity totaled $ 2,000 . The income tax rate is 20 % . 4 The ROCE for Alaska company is A. 32.54 % B. 40.00 % C. 64.61 % D.61.63 %

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