Ask Question
Today, 14:17

Presented below is information related to Coronado Company at December 31, 2017, the end of its first year of operations. Sales revenue $322,990 Cost of goods sold 143,460 Selling and administrative expenses 49,300 Gain on sale of plant assets 27,900 Unrealized gain on available-for-sale investments 9,390 Interest expense 5,590 Loss on discontinued operations 12,730 Dividends declared and paid 4,750 Compute the following:

(a) Income from operations___$

(b) Net income ___ $

(c) Comprehensive income___$

(d) Retained earnings balance at December 31, 2017___$

+4
Answers (1)
  1. Today, 15:32
    0
    a) Income from operations = $322,990 - $143,460 - $49,300 = $130,230

    b) Net Income = $130,230 + 27,900 - $5,590 - $12,730 = $139,810

    c) comprehensive income = $139,810 + $9,390 = $149,200

    d) Retained earnings = $149,200 - $4,750 = $144,450
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Presented below is information related to Coronado Company at December 31, 2017, the end of its first year of operations. Sales revenue ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers