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Can anyone help me to answer these 2 questions plz be detail Question 28 Not yet answered Marked out of 20.00 P Flag question Presented
Can anyone help me to answer these 2 questions plz be detail
Question 28 Not yet answered Marked out of 20.00 P Flag question Presented below is information related to Victor Company at December 31, 2019, the end of its first year of operations In addition to the information presented below, assume 200,000 shares of stock were outstanding during 2019. Also assume a tax rate of 30% on all items Administrative expenses $ 52,500 Gain on sale of investments S 25,000 Casualty loss S 10,000 Interest expense S 33.750 Cost of Goods Sold $ 900,000 Interest revenue $ 15,000 Cumulative decrease in icome from Loss from operations of discontinued change in inventory methods $ 18,000 component of a business (before tax) $ 180,000 Depreciation expense omitted in 2015 S 78,750 Net Sales S 1.462.500 Dividend revenue $ 22,500 Selling expenses S 71,250 Dividends declared $ 90,000 Income tax expense S 56.250 Gain from disposal of component of Write-off of goodwill due to S S 225,000 impairment 133.500 business (before tax) Requirements Prepare a partial multiple-step income statement Begin with income from continuing operations assume income from continuing operations is $400,000) and end with net income (and earning per share figures, or the year 2019 in appropnate format, including all headings, subheading, totals and subtotals within the partial income statement BI ch 1 55 Ili lili mil lil 321-140 Question 27 6 7 Not yet answered Marked out of 23.00 2 13 14 P Flag question 19 20 21 Presented below is information related to Victor Company at December 31, 2019, the end of its first year of operations. In addition to the information presented below, assume 200,000 shares of stock were outstanding during 2019. Also assume a tax rate of 30% on all items Administrative expenses $ 52,900 Gain on sale of investments S 25,000 Casualty loss S 10,000 Interest expense S 33.750 Cost of Goods Sold S 900,000 Interest revenue S 15,000 Cumulative decrease in icome from Loss from operations of discontinued change in inventory methods $ 18,000 component of a business (before tax) S 180,000 Depreciation expense omitted in 2015 $78,750 Net Sales S 1.462.500 Dividend revenue $ 22.500 Selling expenses S 71,250 Dividends declared $ 90,000 Income tax expense $ 56.250 Gain from disposal of component of Write off of goodwill due to S $ 225.000 impairment business (before tax) 133.500 Requirements Prepare a part multiple step income statement ending with income from operations for the year 2019. in appropriate format including all headings, subheadings, totals, and subtotals within the partial income statement 26 27 28Step by Step Solution
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