Presented below is information related to Viel Company at December 31, 2020, the end of its first year of operations.

Sales revenue...........................................................................$310,000
Cost of goods sold.....................................................................140,000
Selling and administrative expenses.........................................50,000
Gain on sale of plant assets........................................................30,000
Unrealized gain on available-for-sale debt investments.........10,000
Interest expense.............................................................................6,000
Loss on discontinued operations...............................................12,000
Dividends declared and paid.........................................................5,000

Instructions

Compute the following:

(a) Income from operations,

(b) Net income,

(c) Comprehensive income,

(d) Retained earnings balance at December 31, 2020. (Ignore income tax eff ects.)