Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales Cost of Goods Sold Selling Expenses 8,100,000 4,800,000 2,000,000 Administrative Expenses 950,000 Dividend Revenue 124,000 Interest Expense 218,000 Unrealized Gain on Trading Securities

image text in transcribed

Sales Cost of Goods Sold Selling Expenses 8,100,000 4,800,000 2,000,000 Administrative Expenses 950,000 Dividend Revenue 124,000 Interest Expense 218,000 Unrealized Gain on Trading Securities 8,000 Unrealized Gain on Available-for-sale Securities 12,000 Interest Revenue 87,000 Gain on Sale of Intangible Assets 63,000 Income Tax Expense 82,000 3,000 Deferred Income Tax Expense Total Additional information: At year-end, the fair value of trading securities is $153,000. At year-end, the fair value of available-for-sale securities is $278,000. At year-end, the fair value of held-to-maturity securities is $296,000. . At year-end, the net realizable value of Inventory is $1,600,000. The company's notes payable is due in 8 years. $ 12,483,000 $12,483,000 The company's bonds are due in 5 years. The company issued $40,000 of common stock during the year. The stock had a par value of $20,000. The company did not purchase or re-issue any of its 2,700 shares of treasury stock during the year. The January 1 beginning balances of Scott Butler's paid-in capital accounts are as follows: common stock: $980,000; paid-in capital in excess of par value, $60,000. Of the company's $5 par value common stock, there are 1,000,000 shares authorized, 200,000 shares issued, and 159,000 shares outstanding as of the balance sheet date. a. Statement of comprehensive income Instructions: Prepare a statement of comprehensive income. Round EPS to 2 decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Reporting and Analysis

Authors: David Alexander, Anne Britton, Ann Jorissen

5th edition

978-1408032282, 1408032287, 978-1408075012

More Books

Students also viewed these Accounting questions

Question

L A -r- P[N]

Answered: 1 week ago