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Intermediate accounting 1I want with the way how we calculated Q1} Presented below is information related to Wise Company at December 31. 2020. the end

Intermediate accounting 1I want with the way how we calculated

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Q1} Presented below is information related to Wise Company at December 31. 2020. the end of its rst year of operations. Sales revenue Cost of goods sold Selling and administrative expenses Gain on sale of plant assets Unrealized gain on available-forsale investments Interest expense Loss on discontinued operations Allocation to noncontrolling interest Dividends declared and paid Instructions $?75.000 350.000 125.000 75.000 25.000 15.000 30.000 100.000 12.000 Compute the following: (a) income from operations. (b) net income. (c) net income attributable to Wise Company's controlling stockholders. (d) comprehensive income. and (e) retained earnings balance at December 31. 2020. Ignore income tax effects. 02} The following accounts appeared on the trail balance of Elbert Company at December 31. 2020. Notes Payable (short-term} $192,000 Accumulated Depreciation - Bldg. T83.000 Supplies 37.800 Salaries and Wages Payable 34.200 Debt Investments (Iongten'n} 281.400 Cash 170.250 Bonds Payable Due 1I1I2028 1.200.000 Allowance for Doubtful Aocts. 7.800 Copyrights 192.900 Notes Receivable (due in 6 months) 138.000 Income Taxes Payable 156.000 Preferred Stock T501300 Appropriated Retained Eamings 294.000 Instructions Compute each of the following: Total current assets Total property, plant, and equipment Total assets Total current liabilities Total stockholders' equity P'P'P'I'J.' Accounts Receivable $518,400 Prepaid Insurance 56,250 Common Stock 1.125.000 Unappropriated Retained Earnings 318.000 Inventory 1 580.250 Land 465.000 Trading Securities 73.200 Interest Payable 5.700 Buildings 1.926.000 Accounts Payable 409.950 Additional Paid-in Capital 163.800

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