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Sagot :
Answer:
Part a
Income from operations calculation
Sales revenue $327,980
Less Cost of goods sold ($148,580)
Gross Profit $179,400
Less Operating Expenses
Selling and administrative expenses ($52,100)
Income from operations $127,300
Part b
Net Income calculation
Income from operations $127,300
Non-Operating items
Gain on sale of plant assets $30,840
Unrealized gain on available-for-sale investments $9,370
Interest expense ($6,060) $34,150
Net Income $161,450
Part c
Comprehensive income calculation
Net Income (from continuing activities) $161,450
Less Loss on discontinued operations ($11,970)
Comprehensive income $149,480
Part d
Comprehensive income $149,480
Less Dividends declared and paid ($5,190)
Retained Earnings $144,290
Explanation:
Income from Operations = Sales less Operating Expenses
Net Income = Income from Operations add or less Non Operating items
Comprehensive Income = Income from Continuing Activities + Income from discontinued Activities
Retained Income = Comprehensive Income less Dividends declared and paid.
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