The following information is related to Wildhorse Company for 2025. Retained earnings balance, January 1, 2025...
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The following information is related to Wildhorse Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2025 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 $1,215,200 31,000,000 19,840,000 86,800 5,828,000 1,016,800 1,542,560 136,400 483,600 545,600 111,600 310,000 99,200 Wildhorse Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Wildhorse sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year. Retained Earnings, January 1 Add Less : Total Revenues Total Expenses Dividends-Common Stock Retained Earnings, December 31 WILDHORSE COMPANY Retained Earnings Statement For the Year Ended December 31, 2025 $ 1215200 The following information is related to Wildhorse Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2025 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 $1,215,200 31,000,000 19,840,000 86,800 5,828,000 1,016,800 1,542,560 136,400 483,600 545,600 111,600 310,000 99,200 Wildhorse Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Wildhorse sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year. Retained Earnings, January 1 Add Less : Total Revenues Total Expenses Dividends-Common Stock Retained Earnings, December 31 WILDHORSE COMPANY Retained Earnings Statement For the Year Ended December 31, 2025 $ 1215200
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Retained Earnings Statement shows only the transactions in the retained earnings account only Theref... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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