E4-3 (L02,4) (Income Statement Items) Presented below are certain account balances of Paczki Products Co. Rent revenue
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E4-3 (L02,4) (Income Statement Items) Presented below are certain account balances of Paczki Products Co.
Rent revenue $ 6,500 Sales discounts $ 7,800 Interest expense 12,700 Selling expenses 99,400 Beginning retained earnings 114,400 Sales revenue 390,000 Ending retained earnings 125,000 Income tax expense 31,000 Dividend revenue 71,000 Cost of goods sold 184,400 Sales returns and allowances 12,400 Administrative expenses 82,500 Allocation to noncontrolling interest 17,000 Instructions From the foregoing, compute the following:
(a) total net revenue,
(b) net income,
(c) dividends declared, and
(d) income attributable to controlling stockholders.
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