Fill in the blanks Answer all questions (5 x 1marks = 05 marks) 1. .enables users to identify the real similarities and differences in economic phenomena because the information has been measured and reported in a similar manner for different enterprises. 2. Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?... Depreciation expensel1,000 Sales S 100,000 Cost of goods sold60,000 Dividend revenue9,000 Salary expense8,000 Utilities expensel,000 Extraordinary loss10,000 Interest expense2,000 3. Majaan Company reported the following information for 2010 Sales revenue$500,000 Unrealized holding gain on available-for-sale securities 20,000 Cost of goods sold350,000 Cash dividends received on the securities 2,000 Operating expenses55,000 For 2010 Majaan would report comprehensive income of......... 4. Net income minus preferred dividends divided by the weighted average of shares outstanding...... 5. Reem.'s trial balance reflected the following account balances at December 31, 2020: Accounts receivable (net) S24,000 Equipment 25,000 Trading securities 6,000 Patent 4,000 Accumulated depreciation on equipment and furniture 15,000 Prepaid expenses 2,000 Cash 11,000 Land held for future business site 18,000 Inventory 30,000 In Reem's December 31, 2020 balance sheet, the current assets total is