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Prepare a comprehensive income statement for 2019 using the one statement approach E4.17 (LO3,5) (Various Reporting Formats) The following information was taken from the records
Prepare a comprehensive income statement for 2019 using the one statement approach
E4.17 (LO3,5) (Various Reporting Formats) The following information was taken from the records of Vega SA for the year 2019: income tax applicable to income from continuing operations R$ 119,000, income tax applicable to loss on discontinued operations R$25,500, and unrealized holding gain on non-trading equity securities R$15,000. Gain on sale of plant assets R$ Cash dividends declared R$ 95,000 150,000 Loss on discontinued 75,000 Retained earnings January 1, 600,000 operations 2019 Administrative expenses 240,000 Cost of goods sold 850,000 Rent revenue 40,000 Selling expenses 300,000 Loss on impairment of land 60,000 Sales revenue 1,700,000 Ordinary shares outstanding during 2019 were 100,000. Instructions a. Prepare a comprehensive income statement for 2019 using the one statement approachStep by Step Solution
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