COD Corporation's accounting records include the following items, listed in no particular order, at December 31, 2025: View the data. The income tax rate for COD Corporation is 21%. Prepare COD Corporation's income statement for the year ended December 31, 2025. Omit earnings per share. Use the multi-step format. Prepare the income statement through the income before taxes, then complete the income statement through the net income. (Use parentheses or a minus sign to enter amounts for Other Expenses.) COD Corporation Income Statement Year Ended December 31, 2025 Data Income Before Income Taxes - Other Income and (Expenses) $ Net Sales Revenue Gain on Discontinued Operations (12,000) 167,800 2,400 Cost of Goods Sold 80,000 Operating Expenses 55,000 Print Done ☑
COD Corporation's accounting records include the following items, listed in no particular order, at December 31, 2025: View the data. The income tax rate for COD Corporation is 21%. Prepare COD Corporation's income statement for the year ended December 31, 2025. Omit earnings per share. Use the multi-step format. Prepare the income statement through the income before taxes, then complete the income statement through the net income. (Use parentheses or a minus sign to enter amounts for Other Expenses.) COD Corporation Income Statement Year Ended December 31, 2025 Data Income Before Income Taxes - Other Income and (Expenses) $ Net Sales Revenue Gain on Discontinued Operations (12,000) 167,800 2,400 Cost of Goods Sold 80,000 Operating Expenses 55,000 Print Done ☑
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
Problem 12M
Related questions
Question
![COD Corporation's accounting records include the following items, listed in no particular order, at December 31, 2025:
View the data.
The income tax rate for COD Corporation is 21%.
Prepare COD Corporation's income statement for the year ended December 31, 2025. Omit earnings per share. Use the multi-step format.
Prepare the income statement through the income before taxes, then complete the income statement through the net income. (Use parentheses or a minus sign to enter amounts for Other Expenses.)
COD Corporation
Income Statement
Year Ended December 31, 2025
Data
Income Before Income Taxes
-
Other Income and (Expenses)
$
Net Sales Revenue
Gain on Discontinued Operations
(12,000)
167,800
2,400
Cost of Goods Sold
80,000
Operating Expenses
55,000
Print
Done
☑](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbbfeb8c8-0d26-4a51-992f-4b84696d9e4a%2Fca16165d-0c7b-4717-8735-7196964af932%2F4c643f5_processed.png&w=3840&q=75)
Transcribed Image Text:COD Corporation's accounting records include the following items, listed in no particular order, at December 31, 2025:
View the data.
The income tax rate for COD Corporation is 21%.
Prepare COD Corporation's income statement for the year ended December 31, 2025. Omit earnings per share. Use the multi-step format.
Prepare the income statement through the income before taxes, then complete the income statement through the net income. (Use parentheses or a minus sign to enter amounts for Other Expenses.)
COD Corporation
Income Statement
Year Ended December 31, 2025
Data
Income Before Income Taxes
-
Other Income and (Expenses)
$
Net Sales Revenue
Gain on Discontinued Operations
(12,000)
167,800
2,400
Cost of Goods Sold
80,000
Operating Expenses
55,000
Print
Done
☑
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning