The following is information regarding the trial balance of PT Young for 2022 Sales profit from building Disadvantages of closed operations Administrative Burden Rental Income Impairment loss on land Cash Dividend Declared Retained Earnings, January 1, 2022 Cost of goods sold Selling expenses Income $95,000 $75,000 $240,000 $40,000 $60,000 $150,000 $600,000 $850,000 $300,000 $1,700,000 The income tax rate for 2022 is 22%. In addition, there was an unrealized holding gain on non-trading equity securities of $15,000, net of tax. There are ordinary shares outstanding of 100,000. There is a sales return of $250,000. Instructions Prepare a statement of income and other comprehensive income for the period ending 2022 in the correct format!

The following is information regarding the trial balance of PT Young for 2022 Sales profit from building Disadvantages of closed operations Administrative Burden Rental Income Impairment loss on land Cash Dividend Declared Retained Earnings, January 1, 2022 Cost of goods sold Selling expenses Income $95,000 $75,000 $240,000 $40,000 $60,000 $150,000 $600,000 $850,000 $300,000 $1,700,000 The income tax rate for 2022 is 22%. In addition, there was an unrealized holding gain on non-trading equity securities of $15,000, net of tax. There are ordinary shares outstanding of 100,000. There is a sales return of $250,000. Instructions Prepare a statement of income and other comprehensive income for the period ending 2022 in the correct format!

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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