1. BlueCorporation had income from continuing operations of $10,801,100in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $199,400. Prior to disposal, the division operated at a loss of $319,400(net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation).Bluehad10,000,000shares of common stock outstanding during 2020. make a partial income statement forBluebeginning with income from continuing operations.(Round earnings per share to 2 decimal places, e.g. 1.48.)
2. In 2020,SheffieldCorporation reported net income of $1,141,200. It declared and paid preferred stock dividends of $263,900. During 2020,Sheffieldhad a weighted average of194,300common shares outstanding. ComputeSheffield's 2020 earnings per share.(Round earnings per share to 2 decimal places, e.g. 1.48.)
3. NashCorporation has retained earnings of $722,500at January 1, 2020. Net income during 2020 was $1,513,900, and cash dividends declared and paid during 2020 totaled $81,200. Prepare a retained earnings statement for the year ended December 31, 2020.(List items that increase retained earnings first.)

4.Presented below is information related toBlossomCompany at December 31, 2020, the end of its first year of operations.

Sales revenue

$322,170Cost of goods sold

138,320Selling and administrative expenses

51,700Gain on sale of plant assets

30,260Unrealized gain on available-for-sale debt investments

9,200Interest expense

5,820Loss on discontinued operations

12,220Dividends declared and paid

4,580

Compute the following:

(a) Income from operations

(b)Net income

(c) Comprehensive income

(d)Retained earnings balance at December 31, 2020