The following is information for Riverbed Corp. for the year ended December 31, 2020: Sales revenue...
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The following is information for Riverbed Corp. for the year ended December 31, 2020: Sales revenue $1,320,000 Loss on inventory due to decline in net realizable value $73,000 Unrealized gain on FV-OCI equity 44,000 Loss on disposal of equipment 35,000 investments Interest income 7,000 Depreciation expense related to buildings omitted by mistake in 2019 53,000 Cost of goods sold Selling expenses 792,000 Retained earnings at December 31, 2019 66,000 Loss from expropriation of land Administrative expenses Dividend revenue 50,000 Dividends declared 900,000 63,000 43,000 18,000 The effective tax rate is 25% on all items. Riverbed prepares financial statements in accordance with IFRS. The FV-OCI equity investments trade on the stock exchange. Gains/losses on FV-OCI investments are not recycled through net income. The following is information for Riverbed Corp. for the year ended December 31, 2020: Sales revenue $1,320,000 Loss on inventory due to decline in net realizable value $73,000 Unrealized gain on FV-OCI equity 44,000 Loss on disposal of equipment 35,000 investments Interest income 7,000 Depreciation expense related to buildings omitted by mistake in 2019 53,000 Cost of goods sold Selling expenses 792,000 Retained earnings at December 31, 2019 66,000 Loss from expropriation of land Administrative expenses Dividend revenue 50,000 Dividends declared 900,000 63,000 43,000 18,000 The effective tax rate is 25% on all items. Riverbed prepares financial statements in accordance with IFRS. The FV-OCI equity investments trade on the stock exchange. Gains/losses on FV-OCI investments are not recycled through net income.
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