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The ledger of Sandhill Corporation at November 30, 2024, contains the following summary data: Cash dividends- $70,000 Operating expenses $1,120,000 common Cash dividends- 25,000
The ledger of Sandhill Corporation at November 30, 2024, contains the following summary data: Cash dividends- $70,000 Operating expenses $1,120,000 common Cash dividends- 25,000 Other comprehensive income-loss on equity investments (before income tax) 90,000 preferred Common shares i 325,000 Rent revenue 58,000 Cost of goods 7,380,000 Preferred shares ($5 noncumulative) 400,000 sold Depreciation 360,000 Retained earnings, December 1, 2023 751,000 expense Sales 9,030,000 Your analysis reveals the following additional information: 1 The company has a 25% income tax rate. 2 The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $19,000 before income tax. The division was sold at a loss of $80,000 before income tax.. 3. There were 200,000 common and 5,000 preferred shares issued on December 1, 2023, with no changes during the year. SANDHILL CORPORATION Income Statement Year Ended November 30, 2024 Prepare a statement of comprehensive income as a separate statement. SANDHILL CORPORATION Statement of Comprehensive Income EA $ EA $
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