Question
SMITH HAS THE FOLLOWING 2019 DATA: CUSTOMER SALES 550,000 COGS (148,000) SELLING, GENERAL & ADMINISTRATIVE EXPENSES (40,000) RESEARCH & DEVELOPMENT (25,000) INTEREST EXPENSE (6,000) LOSS
SMITH HAS THE FOLLOWING 2019 DATA: CUSTOMER SALES 550,000 COGS (148,000) SELLING, GENERAL & ADMINISTRATIVE EXPENSES (40,000) RESEARCH & DEVELOPMENT (25,000) INTEREST EXPENSE (6,000) LOSS FROM DISCONTINUED OPS (15,000) GAIN ON DISPOSAL OF DISCONTINUED OPS 5,000 DIVIDEND AND INTEREST INCOME 4,000 INVENTORY OBSOLESCENCE WRITE-OFF (3,200) OVERSTATEMENT OF P/Y DEPRECIATION 2,000 CASH DIVIDEND DECLARED 30,000 BEGINNING RETAINED EARNINGS 350,000 TAX RATE 21% COMMON STOCK UNITS OUTSTANDING 200000 REQUIRED: WHAT IS EPS FROM CONTINUING OPERATIONS? REQUIRED: WHAT IS EPS FROM DISCONTINUED OPERATIONS? REQUIRED: WHAT IS RETAINED EARNINGS AT 12/31/2019?
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