Oriole Company reports the following information: Correction of understatement of depreciation expense      in prior years, net of tax $ 1299000 Dividends declared 963000 Net income 2920000 Retained earnings, 1/1/20, as reported 5930000 Oriole should report retained earnings, 1/1/20, as adjusted at $ 7229000. $ 9186000. $ 4631000. $ 5930000

The following is information for Novak Corp. for the year ended December 31, 2020: Sales revenue   $1,420,000   Loss on inventory due to decline in net realizable value   $70,000 Unrealized gain on FV-OCI equity investments   46,000   Loss on disposal of equipment   45,000 Interest income   9,000   Depreciation expense related to buildings omitted by mistake in 2019   56,000 Cost of goods sold   852,000   Retained earnings at December 31, 2019   950,000 Selling expenses   71,000   Loss from expropriation of land   57,000 Administrative expenses   52,000   Dividends declared   46,000 Dividend revenue   15,000         The effective tax rate is 25% on all items. Novak prepares financial statements in accordance with IFRS. The FV-OCI equity investments trade on the stock exchange. Gains/losses on FV-OCI investments are not recycled through net income.  a)Prepare the retained earnings section of the statement of changes in equity for 2020. (List…

vt,1

During the current year, Dale Corporation sold a segment of its business at a gain of $315,000.Until it was sold, the segment had a current period operating loss of $112,500. The company had$1,275,000 from continuing operations for the current year.Prepare the lower part of the income statement, beginning with the $1,275,000 income fromcontinuing operations. Follow tax allocation procedures, assuming that all changes in incomeare subject to a 20% income tax rate. Disregard earnings per share disclosures. (Round all calculations to nearest dollar amount.)

Please answer it in good accounting form

A-2

prn.2