let me know if anything wrong
with the current answers .
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Multistep Income Statement: | |||
Sales Revenue | $ 26,104,600 | ||
Cost of Goods Sold | $-16,185,500 | ||
Gross Profit/Loss | $ 9,919,100 | ||
Selling and Administrative Expense | $ -4,733,500 | ||
Income from Operations | $ 5,185,600 | ||
Other Revenue and Gains: | |||
Interest Revenue | $ 78,500 | ||
Gain on Sale of Investments | $ 116,600 | ||
$ 195,100 | |||
Other Expenses and Losses: | |||
Write-off of Goodwill | $ 825,900 | ||
Loss from flood damage | $ 397,200 | ||
$ -1,223,100 | |||
Income from Continuing operations before income tax | $ 4,157,600 | ||
Income Tax | $ -1,405,900 | ||
Income from Continuing operations | $ 2,751,700 | ||
Discontinued Operations: | |||
Loss on Disposal, Net of Tax | $ 450,100 | ||
Loss on Operations, Net of Tax | $ 84,660 | ||
$ -534,760 | |||
Net Income | $ 2,216,940 | ||
Less: Preferred Dividends | $ -77,650 | ||
Income available for Common Stockholders | A | $ 2,139,290 | |
No of Common Stocks | B | 481,300 | |
Earning per Share | A/B | $ 4.44 | |
Retained Earning: | |||
Retained Earning, January 1 2017 | $ 997,070 | ||
Add: Net Income | $ 2,216,940 | ||
$ 3,214,010 | |||
Less: | |||
Common Stock Dividend | $ 263,100 | ||
Preferred Stock Dividend | $ 77,650 | ||
$ -340,750 | |||
Retained Earning, December 31 2017 | $ 2,873,260 |
let me know if anything wrong with the current answers . *Problem 4-1 The following information...
all the red questions and the other 2 with x mark are wrong .
please help if you know how to solve it . thanks
The following information is related to Carla Company for 2017 Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net...
h Assignment PRINTER VERSION ·BACK URCES Problem 4-1 (Part Level Submission) The following information is related to Carla Company for 2017. ents Retained earnings balance, January 1, 2017 Sales Revenue $987,390 26,291,200 16,224,500 90,700 4,727.900 840,500 1,291.400 111,700 395,200 Loss on the disposition of the wholesale division (net of tax) 448,300 95,870 253,400 84,400 Interest revenue Selling and administrative expenses write-off of goodwill Stedy Income taxes for 2017 Gain on the sale of investments Loss due to flood damage Loss...
PROBLEMS P4-1 (L03,4,6) (Multiple-Step Statement, Retained Earnings Statement) The following information is related to Dickin- son Company for 2017. Retained earnings balance, January 1, 2017 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 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) 16,000,000 70,000 820,000 1,244,000...
Problem 4-1 (Part Level Submission) The following information is related to Sheridan Company for 2017. Retained earnings balance, January 1, 2017 $983,980 Sales Revenue 26,111,200 Cost of goods sold 16,270,700 Interest revenue 78,300 Selling and administrative expenses 4,791,200 Write-off of goodwill 839,300 Income taxes for 2017 1,430,000 Gain on the sale of investments 112,800 Loss due to flood damage 399,900 Loss on the disposition of the wholesale division (net of tax) 456,100 Loss on operations of the wholesale division (net...
Problem 4-1 (Part Level Submission) The following information is related to Sheridan Company for 2017. Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 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 on...
Problem 4-01 The following information is related to Coronado 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 on preferred stock $1,097,600...
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...
Problem 4-01 The following information is related to Windsor 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 on preferred stock $1,019,200...
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...