Liu Company Combined Statement of Comprehensive Income and Statement of Retained Earnings For the Year Ended December 31, 2018 $110,000 8,000 $118,000 Net sales revenue Other revenues Total revenues Expenses: Cost of goods sold Selling and administrative expenses Depreciation expense.. Interest expense $60,000 20,200 10,400 6,200 96,800 $ 21,200 9,360 $ 11,840 33,500 $ 45,340 4,000 $ 41,340 Total expenses. Income before income tax Income tax. . Net income. Retained earnings, January 1, 2018. Dividends declared and paid. Retained earnings, December 31, 2018. "Gain on sale of equipment (cost, $15,000; carrying amount, $2,000; sales price, $10,000). There is no other comprehensive income.
Liu Company Combined Statement of Comprehensive Income and Statement of Retained Earnings For the Year Ended December 31, 2018 $110,000 8,000 $118,000 Net sales revenue Other revenues Total revenues Expenses: Cost of goods sold Selling and administrative expenses Depreciation expense.. Interest expense $60,000 20,200 10,400 6,200 96,800 $ 21,200 9,360 $ 11,840 33,500 $ 45,340 4,000 $ 41,340 Total expenses. Income before income tax Income tax. . Net income. Retained earnings, January 1, 2018. Dividends declared and paid. Retained earnings, December 31, 2018. "Gain on sale of equipment (cost, $15,000; carrying amount, $2,000; sales price, $10,000). There is no other comprehensive income.
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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