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part b. prepare a comprehensive income statement part c. prepare a retained earnings statement -please show work and steps :) The following information was taken
part b. prepare a comprehensive income statement
part c. prepare a retained earnings statement
-please show work and steps :)
The following information was taken from the records of Windsor Inc. for the year 2020: Income tax applicable to income from continuing operations $175,780; income tax applicable to loss on discontinued operations $23,970, and unrealized holding gain on available-for-sale securities (net of tax) $14,100. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $89,300 70,500 225,600 37,600 56,400 Cash dividends declared Retained earnings January 1, 2020 Cost of goods sold Selling expenses Sales Revenue $141,000 1,320,000 799,000 282,000 1,786,000 Shares outstanding during 2020 were 100,000. (a) Prepare a single-step income statement (with respect to items in Income from operations). (Round earnings per share to 2 decimal places, e.g. 1.48.) WINDSOR INC. Income Statement - 4 . ~ 4 : $ 4 : 4 $ . 2Step by Step Solution
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