BONITA COMPANY | ||
Income Statement | ||
For the Year Ended December 31, 2020 | ||
Income from continuing operations before income tax | 3466200 | |
Income tax | 1318640 | |
Income from continuing operations | 2147560 | |
Discontinued operations | ||
Loss on operations, net of applicable tax | 95400 | |
Loss on disposal, net of applicable tax | 466400 | |
561800 | ||
Net income/(loss) | 1585760 | |
Earnings Per Share | ||
Income from continuing operations | 4.30 | |
Discontinued operations | ||
Loss on disposal, net of applicable tax | 0.93 | |
Loss on operations, net of applicable tax | 0.19 | |
1.12 | ||
Net income/(loss) | 3.18 |
Note: There is a $0.01 difference in the total EPS due to rounding off.
$1585760/500000 = $3.17
BONITA COMPANY | ||
Retained Earnings Statement | ||
For the Year Ended December 31, 2020 | ||
Retained earnings, January 1 | 1038800 | |
Add: Net income/(loss) | 1585760 | |
2624560 | ||
Less: | ||
Dividends-Common stock | 265000 | |
Dividends-Preferred stock | 84800 | |
349800 | ||
Retained earnings, December 31 | 2274760 |
uestion 5 w Policies ow Attempt History arrent Attempt in Progress The following information is related...
-/3 > < Question 6 of 6 View Policies Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 $1.038,800 Sales Revenue 26,500,000 Cost of goods sold 16,960,000 Interest revenue 74,200 Selling and administrative expenses 4,982,000 Write-off of goodwill 869.200 Income taxes for 2020 1,318,640 Gain on the sale of investments 116,600 Loss due to flood damage 413.400 Loss on the disposition of the wholesale division (net of tax) 466,400...
Question 6 of 6 < > 1.44/3 View Policies Show Attempt History Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division...
W FUNCIES Current Attempt in Progress The following information is related to Splish Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared...
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The following information is related to Concord Company for 2020. Retained earnings balance, January 1, 2020 $960,400 Sales Revenue 24,500,000 Cost of goods sold 15,680,000 Interest revenue 68,600 Selling and administrative expenses 4,606,000 Write-off of goodwill 803,600 Income taxes for 2020 1,219,120 Gain on the sale of investments 107,800 Loss due to flood damage 382,200 Loss on the disposition of the wholesale division (net of tax) 431,200 Loss on operations of the wholesale division (net of tax) 88,200 Dividends declared...
The following information is related to Whispering Company for 2020. Retained earnings balance, January 1, 2020 $1,078,000 Sales Revenue 27,500,000 Cost of goods sold 17,600,000 Interest revenue 77,000 Selling and administrative expenses 5,170,000 Write-off of goodwill 902,000 Income taxes for 2020 1,368,400 Gain on the sale of investments 121,000 Loss due to flood damage 429,000 Loss on the disposition of the wholesale division (net of tax) 484,000 Loss on operations of the wholesale division (net of tax) 99,000 Dividends declared...
The following information is related to Vaughn Company for 2020.Retained earnings balance, January 1, 2020$1,156,400Sales Revenue29,500,000Cost of goods sold18,880,000Interest revenue82,600Selling and administrative expenses5,546,000Write-off of goodwill967,600Income taxes for 20201,467,920Gain on the sale of investments129,800Loss due to flood damage460,200Loss on the disposition of the wholesale division (net of tax)519,200Loss on operations of the wholesale division (net of tax)106,200Dividends declared on common stock295,000Dividends declared on preferred stock94,400Vaughn Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On...
Question 4 The following information is related to Oriole Company for 2020. Retained earnings balance, January 1, 2020 $1,254,400 Sales Revenue 32,000,000 Cost of goods sold 20,480,000 Interest revenue 89,600 Selling and administrative expenses 6,016,000 Write-off of goodwill 1,049,600 Income taxes for 2020 1,592,320 Gain on the sale of investments 140,800 Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) 563,200 Loss on operations of the wholesale division (net of tax) 115,200 Dividends...
Problem 4-01 The following information is related to Wildhorse Company for 2020. Retained earnings balance, January 1, 2020 $1,215,200 Sales Revenue 31,000,000 Cost of goods sold 19,840,000 Interest revenue 86,800 Selling and administrative expenses 5,828,000 Write-off of goodwill 1,016,800 Income taxes for 2020 1,542,560 Gain on the sale of investments 136,400 Loss due to flood damage 483,600 Loss on the disposition of the wholesale division (net of tax) 545,600 Loss on operations of the wholesale division (net of tax) 111,600...
The following information is related to Marigold Company for 2020. Retained earnings balance, January 1, 2020 $940,800 Sales Revenue 24,000,000 Cost of goods sold 15,360,000 Interest revenue 67,200 Selling and administrative expenses 4,512,000 Write-off of goodwill 787,200 Income taxes for 2020 1,194,240 Gain on the sale of investments 105,600 Loss due to flood damage 374,400 Loss on the disposition of the wholesale division (net of tax) 422,400 Loss on operations of the wholesale division (net of tax) 86,400 Dividends declared...