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PROBLEMS 4 8 P4-1 (Income Components) Presented below are financial statement classifications for the statement of 9 comprehensive income and the retained earnings statement. For each transaction or account title, enter in the space provided a letter(s) to indicate the usual classification. Statement of Comprehensive Income Retained Earnings Statement An addition or deduction from beginning balance Additions to retained earnings Deduction from retained earnings Note classification Operating expense Other income or expense Discontinued operations Other comprehensive income Transactions Unealized holding loss on non-trading equity securities. Gain on sale of non-trading equity securities. 3Sales revenue. 4. 5. 6. Net income for the period. Loss on impairment of goodwill. Sales salaries accrued Loss on sale of investments. Depreciation on equipment used in operations 9.Cash dividends declared and paid 10. Correction of an error due to expensing the cost of equipment in a previous year Insurance gain on flood loss-insurance proceeds exceed the carrying amount of assets destroyed The company has decided to stop production of its candy division and suffered a loss on the sale of this division. 12