XYZ Company presents the following results on its adjusted trial balance sheet: Sales (net) $136,400 Interest expense
Fantastic news! We've Found the answer you've been seeking!
Question:
XYZ Company presents the following results on its adjusted trial balance sheet:
Sales (net) $136,400
Interest expense $4,070
Cost of Goods Sold$72,820
Operating expenses $33,440
Common stock*, $5 par $24,200
Retained earnings 1/1/2019 $50,380
*22.000 outstanding shares / S5 par
Other transaction information for 2019
Cash dividend declared and paid $1.28
Land sold pretax gain $6,930
in X pretax gain$5,170
Division X pretax loss (10,450)
A tornado caused a bretax loss($5,940)
Income tax rate for al income items30%
Average shareholder's equity$99,000
Required:
- Prepare a multiple income statement for 2019.
- Prepare a statement of retained earnings for 2019.
- Calcula el return on common equity para el 2019.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date: