1. ..enables users to identify the real similarities and differences in economic phenomena because the information has been measured and reported in a similar manner for different enterprises.

2. Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?............................................................................

Sales $ 100,000	Depreciation expense11,000
Cost of goods sold60,000	Dividend revenue9,000
Salary expense8,000	Utilities expense1,000
Extraordinary loss10,000	Interest expense2,000

3. Majaan Company reported the following information for 2010

Sales revenue$500,000	Unrealized holding gain on available-for-sale securities 20,000
Cost of goods sold350,000	Cash dividends received on the securities 2,000
Operating expenses55,000

For 2010 Majaan would report comprehensive income of..

4. Net income minus preferred dividends divided by the weighted average of shares outstanding

5. Reem.'s trial balance reflected the following account balances at December 31,

2020:

Accounts receivable (net) $24,000	Equipment 25,000
Trading securities 6,000	Patent 4,000
Accumulated depreciation on equipment and furniture 15,000	Prepaid expenses 2,000
Cash 11,000	Land held for future business site 18,000
Inventory 30,000

In Reem's December 31, 2020 balance sheet, the current assets total is .