This exercise should be used with Exercise 1-30B.
In Exercise 1-30B, Amounts of the assets and liabilities of Diaz Design Company, as of July 31, 2014, are as follows. Also included are revenue, expense and selected stockholders€™ equity figures for the year ended on that date (amounts in millions):

Requirements
1. Prepare the income statement of Diaz Design Company for the year ended July 31, 2014.
2. What amount of dividends did Diaz Design declare during the year ended July 31, 2014?

Transcribed Image Text:

Total revenue S 41.4Investment assets (long-term)$108.9 57.6 1.6 Property and equipment, net 4.7 Other expenses ww... Other assets (long-term) Interest expense Salary and other employee expenses Long-term liabilities 31.7 Retained earnings, beginning 55.1 0.3 Retained earnings, ending 13.6 Current liabilities 5.3 21.5 99.5Common stock