Income Statement Items Presented below are certain account balances of Wade Products Co.

Instructions

From the foregoing, compute the following.

(a) Total net revenue.

(b) Net income, and

(c) Dividends declared during the currentyear.

Sales discounts $ 7,800 Rental revenue $ 6.500 Interest expense 12,700 Selling expenses Sales 99.400 400.000 Beginning retained earnings 114.400 Ending retained earnings 134.000 Income tax 26.600 Cost of goods sold Dividend revenue 71,000 184,400 12,400 Administrative expenses 82,500 Sales returns