Presented below is information related to Novak Corporation at December 31, 2025, the end of its first year of operations. Sales revenue Cost of goods sold Interest expense Selling and administrative expenses Dividends declared and paid Loss on sale of investments Unrealized gain on available-for-sale financial assets Gain on discontinued operations Compute the following: Ignore tax effects. (a) Income from operations $532,000 360,000 29,500 109,400 9,900 5,500 16,200 17,600 $ LA

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…

WB Inc. reported profits of P 100,000 in its March 31, 2022 interim financial statements. Additional information is shown below (amounts are net of tax): • AP 10,000 cumulative-effect gain resulting from a change in inventory cost flow formula was recognized in profit or loss during the 1 quarter. • In March 2022, a component of an entity was classified as held for sale. Of the total loss on discontinued operations of P 12,000, only P 3,000 has been recognized in the 1" quarter. WB Inc. intends to allocate the remaining P 9,000 loss to the other quarters in 2022. REQUIRED: Compute for the restated profit after tax for the 1" quarter of 2022.

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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.)

On June 30, Pronghorn Corp discontinued its operations in Mexico. During the year, the operating income was $270,000 before taxes. On September 1, Pronghorn disposed of the Mexico facility at a pretax loss of $670,000. The applicable tax rate is 30%. Show the discontinued operations section of Pronghorn’s income statement. PRONGHORN CORPPartial Income Statement select an opening section name                                                                enter an income statement item                                                              $enter a dollar amount enter an income statement item                                                              $enter a dollar amount     $enter a total dollar amount

Please answer it in good accounting form

Crane Limited reported the following selected information for the year ended March 31, 2024: Advertising expense Cash dividends-common Depreciation expense Fees earned Gain on disposal of equipment Holding loss on equity investments $5,000 6.000 4,000 62,000 2.000 3,000 Income tax payable Interest expense 4 Loss on discontinued operations Rent revenue Retained earnings, April 1, 2023 Telephone expense $5,300 5,800 20,000 CRANE LIMITED Income Statement Year Ended March 31:2024 32.000 21,000 8,000 The company's income tax rate is 30%. The company reports gains and losses on its equity investments as other comprehensive in Prepare a multi-step income statement and a separate statement of comprehensive income for Crane Limited. C

During the current year, Newtech Corporation sold a segment of its business at a loss of $225,000. Until it was sold, the segment had a current period operating loss of $200,000. The company had $750,000 from continuing operations for the current year. Prepare the lower part of the income statement, beginning with the $750,000 income from continuing operations. Follow tax allocation procedures, assuming that all changes in income are subject to a 40% income tax rate. Disregard earnings per share disclosures. Newtech Corporation Partial Income Statement Income from continuing operations Discontinued operations Current Year Loss from operations of discontinued segment (net of tax) $ 200,000 Loss on disposal of discontinued segment (net of tax) Net income $ 750,000 0 0 $ 0

The following items were taken from the adjusted trial balance of the Dylex Corporation for the year ended December 31, 2020. Assume an average 25% income tax on all ens. The accounting period ends December 31, and all amounts given are pre-tax. Dylex Corporation had 11,000 common shares outstanding in 2020 and follows IFRS Cost of goods sold Depreciation expense, building Gain on exchange Gain on sale of assets from discontinued operations Insurance expense Interest expense Interest income Loss on sale of trading investment 140,000 23,000 a) Prepare a multi-step income statement in good form. Please make sure your final anewarts) are accurate to 2 decimal places Dylex Corporation For the Year Ended December 31, 200 125,000 100,000 54,000 52,000 X 58,000 135,000 Operating loss of discontinued operation to disposal date 100,000 Salaries expense 160.000 Sales ** 900,000 REQUIRED DISCLOSURES b) Calculate basic eamings per share (EPS) from continuing operations. Please make sure your final…