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help me please Presented below is information related to Harris, Inc., for the year ended December 31, 2021: Net sales 1,950,000 Cost of goods sold
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Presented below is information related to Harris, Inc., for the year ended December 31, 2021: Net sales 1,950,000 Cost of goods sold 1,200,000 Selling expenses 95,000 Administrative expenses 70,000 Dividend revenue 30,000 Interest revenue 20,000 Interest expense 45,000 Loss due to write-off of goodwill due to impairment 75,000 Depreciation expense omitted in 2018 105,000 Dividends declared 120,000 Loss from operations of discontinued component of business 240,000 Gain from disposal of component of business 300,000 Federal tax rate of 20% on all items Harris, Inc. has 200,000 shares of common stock outstanding during the year. Question 19 (3 points) The Income Statement for the year ended December 31, 2021 would have Income from Continuing Operations of $412,000. True False Question 20 (3 points) The Income Statement for the year ended December 31, 2021 would have Income from Operations of $585,000. True False Question 21 (3 points) The Income Statement for the year ended December 31, 2021 would have Net Income of $460,000. True False Question 22 (3 points) Harris Inc., would have Earnings per Share of $2.30. True False Question 23 (3 points) The Income Statement for the year ended December 31, 2021 would have Income Taxes of $103,000. True False Question 24 (3 points) The Income Statement for the year ended December 31, 2021 would have a gross profit of $750,000 True False Step by Step Solution
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