Presented below is information related to Blossom Company at December 31, 2020, the end of its first year of operations. Sales revenue $322,170 Cost of goods sold 138,320 Selling and administrative expenses 51,700 Gain on sale of plant assets 30,260 Unrealized gain on available-for-sale debt investments 9,200 Interest expense 5,820 Loss on discontinued operations 12,220 Dividends declared and paid 4,580 Compute the following: (a) Income from operations $enter a dollar amount (b) Net income $enter a dollar amount (c) Comprehensive income $enter a dollar amount (d) Retained earnings balance at December 31, 2020 $enter a dollar amount
Presented below is information related to Blossom Company at December 31, 2020, the end of its first year of operations. Sales revenue $322,170 Cost of goods sold 138,320 Selling and administrative expenses 51,700 Gain on sale of plant assets 30,260 Unrealized gain on available-for-sale debt investments 9,200 Interest expense 5,820 Loss on discontinued operations 12,220 Dividends declared and paid 4,580 Compute the following: (a) Income from operations $enter a dollar amount (b) Net income $enter a dollar amount (c) Comprehensive income $enter a dollar amount (d) Retained earnings balance at December 31, 2020 $enter a dollar amount
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2P
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Question
Presented below is information related to Blossom Company at December 31, 2020, the end of its first year of operations.
|
Sales revenue
|
$322,170 | ||
|---|---|---|---|
|
Cost of goods sold
|
138,320 | ||
|
Selling and administrative expenses
|
51,700 | ||
|
Gain on sale of plant assets
|
30,260 | ||
|
Unrealized gain on available-for-sale debt investments
|
9,200 | ||
|
Interest expense
|
5,820 | ||
|
Loss on discontinued operations
|
12,220 | ||
|
Dividends declared and paid
|
4,580 |
Compute the following:
|
(a)
|
Income from operations
|
$enter a dollar amount | |||
|---|---|---|---|---|---|
|
(b)
|
Net income
|
$enter a dollar amount | |||
|
(c)
|
Comprehensive income
|
$enter a dollar amount | |||
|
(d)
|
|
$enter a dollar amount |
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