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Presented below is information for Dolle Inc. at December 31, 202X, the end of its year of operations: Sales revenue: $510,000 Cost of goods sold:
- Presented below is information for Dolle Inc. at December 31, 202X, the end of its year of operations: Sales revenue: $510,000 Cost of goods sold: 240,000 Selling and administrative expenses: 25,000 Gain on sale of plant assets: 10,000 Unrealized gain on securities available for sale: 5,000 Interest expenses: 3,000 Income from operations of discontinued segment: 12,000 Book value of discontinued segment: 80,000 Sale of discontinued segment: 65,000 Dividends declared and paid: 5,000 ignoring income tax effects, use the information above to prepare a multiple -step income statement that includes the following sections (label each figure & use the corresponding letter below): a. Gross profit b. Income(loss) from continuing operations c. Income (loss) on discontinued operations d. Net income(loss) e. Comprehensive income f. Exclusive of the income statement, compute the Retained Earnings balance at December 31, 202X
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