XYZ presents the following results on its adjusted trial balance:

 Sales (net) $ 99,200.00 Interest expense $ 2,960.00 Cost of Goods Sold $ 52,960.00 Operating expenses $ 24,320.00 Common stock*, $5 par $ 17,600.00 $5.00 Retained earnings 1/1/2019 $ 36,640.00 *22,000 outstanding shares / $5 par 3,520 shares 

Other information of transaction for  2019 

1 Cash dividend declared and paid $1.28 per share 

2 Land sold pre tax gain $ 5,040.00 

3 Division X pre tax gain $ 3,760.00 Division X pre tax loss $ (7,600.00) 

4 A tornado caused a pretax loss $ (4,320.00) 

5 Income tax rate for all income items 30% 

6 Average shareholder's equity $ 72,000.00 

Required:

 1. Prepares a multi-income status for 2019. 

2. Prepares a retained earnings status for 2019. 

3. Calculate the return on common equity for 2019. 

Answer rating: 100% (QA)

1 MultiIncome Statement for 2019 XYZ Company MultiIncome Statement for the year ended December 31 20... View the full answer