Presented below is information related to Whispering Company at December 31, 2020, the end o Sales revenue $326.200 Cost of goods sold 126,370 Selling and administrative expenses 47,200 Gain on sale of plant assets 31,080 Unrealized gain on available-for-sale debt investments 9620 Interest expense 6,320 Loss on discontinued operations 11.900 Dividends declared and paid 4,700 Compute the following (a) Income from operations (b) Net income %24 (c) Comprehensive income %24 (d) Retained earnings balance at December 31, 2020 $

Presented below is information related to Whispering Company at December 31, 2020, the end o Sales revenue $326.200 Cost of goods sold 126,370 Selling and administrative expenses 47,200 Gain on sale of plant assets 31,080 Unrealized gain on available-for-sale debt investments 9620 Interest expense 6,320 Loss on discontinued operations 11.900 Dividends declared and paid 4,700 Compute the following (a) Income from operations (b) Net income %24 (c) Comprehensive income %24 (d) Retained earnings balance at December 31, 2020 $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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In its income statement for the year ended December 31, 2022, Blue Company reported the following condensed data. Operating expenses $760,210 Interest revenue $31,740 Cost of goods sold Interest expense 1,301,200 Loss on disposal of plant assets 15,430 72,400 Net sales 2,413,300 (a) Prepare a multiple-step income statement. (List other revenues before other expenses. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BLUE COMPANY Income Statement For the Year Ended December 31, 2022
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Forecast an Income StatementSeagate Technology reports the following income statement for fiscal 2019. SEGATE TECHNOLOGY PLC Consolidated Statement of Income For Year Ended June 28, 2019, $ millions Revenue $20,780 Cost of revenue 14,916 Product development 1982 Marketing and administrative 906 Amortization of intangibles 46 Restructuring and other, net (44) Total operating expenses 17,806 Income from operations 2,974 Interest income 168 Interest expense (448) Other, net 50 Other expense, net (230) Income before income taxes 2,744 (Benefit) provision for income taxes (1,280) Net income $4,024 Forecast Seagate’s 2020 income statement assuming the following income statement relations ($ millions). Revenue growth 5% Cost of revenue 71.8% of revenue Product development 9.5% of revenue Marketing and administrative 4.4% of revenue Amortization of intangibles No change Restructuring and other, net $0 Interest income No change…
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