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E4.16 (LO3, 6) (Comprehensive Income) Bryant plc reports the following information for 2019: sales revenue 750,000, cost of goods sold 500,000, operating expenses 80,000, and

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E4.16 (LO3, 6) (Comprehensive Income) Bryant plc reports the following information for 2019: sales revenue 750,000, cost of goods sold 500,000, operating expenses 80,000, and an unrealized holding loss on non-trading equity securities for 2019 of 50,000. It declared and paid a cash dividend of 10,000 in 2019. Bryant plc has January 1, 2019, balances in share capitalordinary 350,000, accumulated other comprehensive income related to the unrealized holding gain of 80,000, and retained earnings 90,000. It issued no ordinary shares during 2019. Ignore income taxes. Instructions Prepare a statement of changes in equity. E4.17 (LO3, 5) (Various Reporting Formats) The following information was taken from the records of Vega SA for the year 2019: income tax applicable to income from continuing operations R$ 119,000, income tax applicable to loss on discontinued operations R$25,500, and unrealized holding gain on non-trading equity securities R$15,000. Gain on sale of plant assets R$ Cash dividends declared R$ 95,000 150,000 Loss on discontinued 75,000 Retained earnings January 1, 600,000 operations 2019 Administrative expenses 240,000 Cost of goods sold 850,000 Rent revenue 40,000 Selling expenses 300,000 Loss on impairment of land 60,000 Sales revenue 1,700,000 Ordinary shares outstanding during 2019 were 100,000. E4.14 (LO3, 4) (Change in Accounting Principle) Zehms Company began operations in 2017 and adopted weighted-average pricing for inventory. In 2019, in accordance with other companies in its industry, Zehms changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted-Average FIFO 2017 $370,000 $395,000 2018 390,000 420,000 2019 410,000 460,000 Instructions a. What is Zehms's net income in 2019? Assume a 35% tax rate in all years. b. Compute the cumulative effect of the change in accounting principle from weighted average to FIFO inventory pricing. c. Show comparative income statements for Zehms Company, beginning with income before income tax, as presented on the 2019 income statement

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