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The following information was taken from the records of Vega Inc. for the year 2015: income tax applicable to income from continuing operations R$119,000, income
The following information was taken from the records of Vega Inc. for the year 2015: income tax applicable to income from continuing operations R$119,000, income tax applicable to loss on discontinued operations R$25,500, and unrealized holding gain on non-trading equity securities R$15,000.
Gain on sale of plant assets | R$95,000 | Cash dividends declared | R$150,000 | |
Loss on discontinued operations | 75,000 | Retained earnings January 1, 2015 | 600,000 | |
Administrative expenses | 240,000 | Cost of goods sold | 850,000 | |
Rent revenue | 40,000 | Selling expenses | 300,000 | |
Loss on impairment of land | 60,000 | Sales revenue | 1,700,000 |
Ordinary shares outstanding during 2015 were 100,000.
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