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oh of its candy division and suffered a loss on the 2.5) (Income Statement, Retained Earnings) Presented below is Information relate PAZ (LOZI kinson AG

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oh of its candy division and suffered a loss on the 2.5) (Income Statement, Retained Earnings) Presented below is Information relate PAZ (LOZI kinson AG for 2019, ined earnings balance, January 1, 2019 Retained earnin ting and administrative expenses Sales revenue Cost of goods sold Interest expense Selling and administra Write-off of goodwill Income taxes for 2019 Gain on the sale of investments Loss due to flood damage Loss on the disposit 980,000 25,000,000 16,000,000 70,000 4,700,000 820,000 1.244.000 110,000 390,000 440,000 90,000 250,000 80,000 on the disposition of the wholesale division (net of tax) on operations of the wholesale division (net of tax) Dividends declared on ordinary shares Dividends declared on preference shares Instructions Prepare an income an income statement and a retained earnings statement. Dickinson decided to discontinue is n o esale operations and to retain its manufa is manufacturing operations. On September 15, Dickinson sold the lesale operations to Rogers Company. During 2019. there were 500.000 ordinary shares outstanding wholesale oper all year. (L02,3,5) (Income Statement, Retained Earnings, Periodic Inventory) Presented below trial balance of Thompson Ltd. at December 31, 2019. Thompson Ltd. Trial Balance December 31, 2019 Debit Credit 10,000 189,700 105,000 18,000 160,000 18,000 1,100,000 110,000 49,000 28,000 14,500 17,500 70,000 Purchase Discounts Cash Accounts Receivable Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable Accounts Payable Accumulated Depreciation Equipment Sales Discounts Sales Returns and Allowances Notes Payable Selling Expenses Administrative Expenses Share Capital-Ordinary Income Tax Expense Cash Dividends Allowance for Doubtful Accounts Supplies Freight-In Land Equipment Bonds Payable 232,000 99,000 300,000 53,900 45,000 5,000 14,000 20,000 70,000 140,000 100,000 (continued)

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