Presented below is information related to Anderson Company for 2022. Sales revenue Cost of goods sold Interest expense Selling and administrative expenses Loss from write-off of goodwill Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division Loss on operations of the wholesale division Dividends declared on ordinary shares Dividends declared on preference shares 25,000,000 16,000,000 70,000 4,700,000 820,000 110,000 390,000 800,000 150,000 250,000 60,000 Anderson decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Anderson sold the wholesale operations to Rogers Company. During 2022, there were 500,000 ordinary shares outstanding all year. Prepare an income statement for the year ended 31 December 2022
Presented below is information related to Anderson Company for 2022.
Sales revenue
Cost of goods sold
Interest expense
Selling and administrative expenses
Loss from write-off of goodwill
Gain on the sale of investments
Loss due to flood damage
Loss on the disposition of the wholesale division Loss on operations of the wholesale division Dividends declared on ordinary shares Dividends declared on
25,000,000 16,000,000 70,000 4,700,000 820,000 110,000 390,000 800,000 150,000 250,000 60,000
Anderson decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Anderson sold the wholesale operations to Rogers Company. During 2022, there were 500,000 ordinary shares outstanding all year.
Prepare an income statement for the year ended 31 December 2022. Applicable tax rate is 30%.
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