Compute Income Measures Presented below is information related to Viel Company at December 31, 2010, the end of its first year of operations.
Sales revenue...................... €310,000
Cost of goods so1d................. 140,000
Selling and administrative expenses........... 50,000
Gain on sale of plant assets.............. 30,000
Unrealezed gain on non-trading equity securities....... 10,000
Interest expense.................. 6,000
Loss on discontinued operations............ 12,000
Allocation to non-controlling interest.......... 40,000
Dividends declared and paid............. 5,000
Instructions
Compute the following:
(a) Income from operations,
(b) Net income.
(c) Net income attributable to Viel Company controlling shareholders,
(d) Comprehensive income, and
(e) Retained earnings balance at December 31, 2010.