Exercise 4-02

Presented below is information related to Wildhorse Company at December 31, 2020, the end of its first year of operations.

Sales revenue $285,560

Cost of goods sold 137,690

Selling and administrative expenses 49,700

Gain on sale of plant assets 32,020

Unrealized gain on available-for-sale debt investments 9,670

Interest expense 5,600

Loss on discontinued operations 12,420

Dividends declared and paid 5,440

Compute the following:

(a)

Income from operations

$enter a dollar amount

(b)

Net income

$enter a dollar amount

(c)

Comprehensive income

$enter a dollar amount

(d)

Retained earnings balance at December 31, 2020

$enter a dollar amount