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The following information is related to Bramble Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue
The following information is related to Bramble Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill $1,136,800 29,000,000 18,560,000 81,200 5,452,000 951,200 1,443,040 Income taxes for 2020 Gain on the sale of investments 127,600 Loss due to flood damage 452,400 Loss on the disposition of the wholesale division (net of tax) 510,400 Loss on operations of the wholesale division (net of tax) 104,400 Dividends declared on common stock Dividends declared on preferred stock 290,000 92,800 Bramble Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Bramble sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year.
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