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Ir E4.17 (LO 3, 5) (Various Reporting Formats) The following information was taken from the records of Vega SA for the year 2022: income tax
Ir E4.17 (LO 3, 5) (Various Reporting Formats) The following information was taken from the records of Vega SA for the year 2022: income tax applicable to income from continuing operations R$119,000, income tax savings applicable to loss on discontinued operations R$25,500, and unrealized holding gain on non-trading equity securities RS15,000, net of tax. Gain on sale of plant assets Loss on discontinued operations Administrative expenses Rent revenue Loss on impairment of land R$ 95,000 75,000 Cash dividends declared Retained earnings, January 1, 2022 R$ 150,000 600,000 240,000 Cost of goods sold 850,000 40,000 Selling expenses 300,000 60,000 Sales revenue 1,700,000 Ordinary shares outstanding during 2022 were 100,000. Instructions a. Prepare a comprehensive income statement for 2022 using the one statement approach. b. Prepare a retained earnings statement for 2022
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