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Presented below is information related to Diego Company for 2019: Note: All amounts listed are before taxes During 2019: Diego Company sold its fishing division

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Presented below is information related to Diego Company for 2019: Note: All amounts listed are before taxes During 2019: Diego Company sold its fishing division to focus exclusively on its restaurant distribution operations. During 2019, there were 10,000 shares of common stock outstanding all year, and 5,000 shares of preferred stock outstanding all year 20% $(15,000) Income tax rate Cumulative effect of change in accounting principle* (* new principle would have reduced net income in the past) Understatement of Depreciation Expense in 2012-2017 (^ if correct, would have decreased net income in the past) Administrative expenses (10,000) Interest revenue Net Sales revenue Dividend revenue Interest expense Cost of goods sold Selling expenses Gain on the sale of Available-for-sale Securities Gain on the disposition of the fishing division Gain on operations of the fishing division Restructuring costs Loss on impairment of goodwill Holding gain on Available-for-sale Securities Dividends declared on common stock Dividends declared on preferred stock Retained earnings balance, Jan. 1, 2019 Accumulated Other Comprehensive Income, Jan. 1, 2019 Instructions: 50,000 15,000 987,000 40,000 60,000 550,000 100,000 8,000 25,000 75,000 38,000 13,000 22,000 50,000 25,000 90,000 30,000 Prepare a (1) multiple-step income statement, (2) statement of comprehensive income. (3) statement of retained earnings, and (4) compute the ending balance of Accumulated Other Comprehensive Income that would be shown on the Balance Sheet. When computing after-tax amounts, round to nearest whole dollar

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