Information related to Viel Company as of December 31, 2014, at the close of its first year
Fantastic news! We've Found the answer you've been seeking!
Question:
Information related to Viel Company as of December 31, 2014, at the close of its first year of operations, is presented below.
- Sales revenue $304,760
- Cost of goods sold 143,470
- Selling and administrative expenses 52,520
- Gain on sale of plant assets 28,570
- Unrealized gain on available-for-sale investments 11,270
- Interest expense 6,360
- Loss on discontinued operations 11,190
- Allocation to non-controlling interest 40,740
- Dividends declared and paid 4,980
Calculate the following:
a) Operating profit
b) Net Income
c) Net profit attributable to the majority shareholders of Viel Company
d) Comprehensive income
e) Balance of retained earnings as of December 31, 2014
Related Book For
Posted Date: