(LO 6)

E4-7

(Income Statement Items)

Certain account balances follow for Vincenti Products Corp.:

Rent revenue	$8,500	Sales discounts	$17,800
Interest expense	2,700	Selling expenses	79,400
Beginning retained earnings	114,400	Sales revenue	490,000
Ending retained earnings	74,000	Income tax expense	100
Dividend revenue	91,000	Cost of goods sold	384,400
Sales returns and allowances	22,400	Administrative expenses	82,500

Instructions

Based on the balances, calculate the following:

(a)

Total net revenue,

(b)

Net income or loss

(c)

Dividends declared during the current year