4. Presented below is information related to Sohar Inc at December 31, 2020. Revenues $1,200,000 Income from continued operation 150,000 Comprehensive income 180,000 Net income 135,000 Income from operation 330,000 Selling & Administrative 750,000 Expenses Income before income tax 300,000 Compute the following: (a) Other income & expenses, (b) Financing Cost, (c) Income Tax, (d) Discontinued operation, (e) Other Comprehensive Income. 5. Al Jabel Corporation sells WIFI speakers and offers 2-year warranty contract to customers. During 2020 Al Jabel sold 15,000 warranty contract at $99 each. Al Jabel spent S 135,000 serving warranties during 2020, and it estimates that an additional $675,000 will be spent in the future to service the warranties. Prepare journal entries for: (a) The sale of contract (b) The cost of servicing warranties (c) The recognition of warranties revenue 6. Farhan Corporation issued $ 1,000,000 of 8%, 28-year bond on January 1, 2020, at 119.792 to yield 6%. Interest is payable semi-annually on July 1 and January 1. Prepare journal entries to record following: (a) The issuance of bonds (b) The payment of interest and related amortization on July 1, 2020 (c) The accrual of interest and related amortization on December 31, 2020 7. On April 1, 2020, Waleed company entered into a cost- plus fixed-fee contract to construct a power station, estimated to complete in 2 years at a cost of $6,000,000. The fixed fee stipulated in the contract is $900,000. During the year Waleed company incurred cost of $1,600,000. The estimated cost at December 31, 2020 to complete the contract is $2,400,000 and billed for $1,200,000. Prepare a schedule to compute amount of gross profit to be recognized under the percentage of completion method