(a) Income from continuing operations b) Net income (c) Net income attributable to Sunland Company's controlling shareholders %24 %24

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Compute the following:
(a)
Income from continuing operations
(b)
Net income
$
(c)
Net income attributable to Sunland Company's controlling shareholders
$
(d)
Comprehensive income
(e)
Retained earnings balance at December 31, 2017
%24
%24
%24
%24
%24
Transcribed Image Text:Compute the following: (a) Income from continuing operations (b) Net income $ (c) Net income attributable to Sunland Company's controlling shareholders $ (d) Comprehensive income (e) Retained earnings balance at December 31, 2017 %24 %24 %24 %24 %24
Presented below is information related to Sunland Company as of and for the year ended December 31, 2017. This was Sunland
Company's first year of operations. (Ignore income tax effects.)
Sales revenue
$ 1,380,000
Cost of goods sold
700,000
Selling and administrative expenses
320,000
Loss on sale of plant assets
68,000
Unrealized gain on available-for-sale investments
17,000
Interest expense
5,800
Interest revenue
3,900
Loss on discontinued operations
2,600
Allocation to noncontrolling interest
8,700
Div
declared and paid
27,200
Transcribed Image Text:Presented below is information related to Sunland Company as of and for the year ended December 31, 2017. This was Sunland Company's first year of operations. (Ignore income tax effects.) Sales revenue $ 1,380,000 Cost of goods sold 700,000 Selling and administrative expenses 320,000 Loss on sale of plant assets 68,000 Unrealized gain on available-for-sale investments 17,000 Interest expense 5,800 Interest revenue 3,900 Loss on discontinued operations 2,600 Allocation to noncontrolling interest 8,700 Div declared and paid 27,200
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