Required: Prepare a 2013 Multiple-Step Income Statement for Rollins Inc. with with Basic

question 21

Essay

Required:
Prepare a 2013 multiple-step income statement for Rollins Inc. with basic earnings per share disclosure.

---

Definitions:

FIFO Method

"First In, First Out," an inventory valuation method where goods purchased or manufactured first are sold or used first, affecting the cost of goods sold and ending inventory valuation.

Cost of Goods Sold

The expenses directly linked to the manufacturing of goods a company sells.

Specific Invoice

An itemized bill showing quantities, descriptions, prices, and terms of products and services provided by a seller to a buyer.

Ending Inventory

The total value of all unsold goods remaining at the end of an accounting period.