Presented below is information related to Oriole Company at December 31, 2020, the end of its first
Fantastic news! We've Found the answer you've been seeking!
Question:
Presented below is information related to Oriole Company at December 31, 2020, the end of its first year of operations.
Sales revenue | $781,000 | ||
Cost of goods sold | 379,000 | ||
Selling and administrative expenses | 128,000 | ||
Unusual gain on sale of plant assets | 88,000 | ||
Unrealized gain on available-for-sale investments | 33,000 | ||
Interest expense | 21,000 | ||
Loss on discontinued operations | 30,000 | ||
Allocation to noncontrolling interest | 127,000 | ||
Dividends declared and paid | 11,000 |
Compute the following. Ignore income tax effects.
(a) | Income from operations | $ | |||
(b) | Net income | $ | |||
(c) | Net income attributable to Oriole Company’s controlling stockholders | $ | |||
(d) | Comprehensive income | $ | |||
(e) | Retained earnings balance at December 31, 2020 | $ |
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Posted Date: