XYZ Company presents the following results on its adjusted trial balance sheet:

Sales (net) $136,400

Interest expense $4,070

Cost of Goods Sold$72,820

Operating expenses $33,440

Common stock*, $5 par $24,200

Retained earnings 1/1/2019 $50,380

*22.000 outstanding shares / S5 par

Other transaction information for 2019

Cash dividend declared and paid $1.28

Land sold pretax gain $6,930

in X pretax gain$5,170

Division X pretax loss (10,450)

A tornado caused a bretax loss($5,940)

Income tax rate for al income items30%

Average shareholder's equity$99,000

Required:

1. Prepare a multiple income statement for 2019.
2. Prepare a statement of retained earnings for 2019.
3. Calcula el return on common equity para el 2019.

Answer rating: 100% (QA)

a MultipleStep Income Statement for XYZ Company 2019 Sales net 136400 Cost of Goods Sold 72820 Gross ... View the full answer