Question
Presented below is information related to Sandhill Company at December 31, 2020, the end of its first year of operations. Sales revenue$790,000Cost of goods sold374,000Selling
Presented below is information related to Sandhill Company at December 31, 2020, the end of its first year of operations.
Sales revenue$790,000Cost of goods sold374,000Selling and administrative expenses134,000Unusual gain on sale of plant assets74,000Unrealized gain on available-for-sale investments27,000Interest expense17,000Loss on discontinued operations33,000Allocation to noncontrolling interest129,000Dividends declared and paid19,000
Compute the following. Ignore income tax effects.
(a)Income from operations$
(b)Net income$
(c)Net income attributable to Sandhill Company's controlling stockholders$. ?
(d)Comprehensive income$
(e)Retained earnings balance at December 31, 2020$
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