An expect of certain LEAP Inc's accounts as of / for the year ended December 31, 2019 is presented below.

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Accumulated other comprehensive LOSS, Jan 1, 2019 Accrued liabilities Cost of goods sold Common shares (10,000 shares outstanding throughout the year) Dividends declared-preferred shares Dividends declared-common shares Gain on sale of equipment General & admin expenses Expense error from 2018 (depreciation expense was understated in 2018 by this amount) Loss on writedown of assets of discontinued operation Income tax payable Interest expense Interest revenue Income from the operations of discontinued operations Sales and marketing expenses Preferred shares (400 preferred shares outstanding throughout the year) Retained earnings, Jan 1, 2019 Sales revenue Unrealized gain on investments-OCI (other comprehensive. Income) Amount $ 400 820 10,000 1,200 150 450 82 1,520 620 800 0 105 80 200 800 640 1,400 17,500 152 Accumulated other comprehensive LOSS, Jan 1, 2019 Accrued liabilities Cost of goods sold Common shares (10,000 shares outstanding throughout the year) Dividends declared-preferred shares Dividends declared-common shares Gain on sale of equipment General & admin expenses Expense error from 2018 (depreciation expense was understated in 2018 by this amount) Loss on writedown of assets of discontinued operation Income tax payable Interest expense Interest revenue Income from the operations of discontinued operations Sales and marketing expenses Preferred shares (400 preferred shares outstanding throughout the year) Retained earnings, Jan 1, 2019 Sales revenue Unrealized gain on investments-OCI (other comprehensive. Income) Amount $ 400 820 10,000 1,200 150 450 82 1,520 620 800 0 105 80 200 800 640 1,400 17,500 152

Answer rating: 100% (QA)

a LEAP Inc Statement of Comprehensive Income For the Year Ended December 31 2019 Revenues Sales Revenue 1400 Interest Revenue 80 Income from Discontinued Operations 200 Total Revenues 1680 Expenses Co... View the full answer