4. Roland Carlson: disc ops The following data is from the records of Roland Carlson Inc. for the year ended December 31, 2021. $ 850,000 1,900,000 Cost of goods sold Sales revenue Sales discounts General and administrative expenses Gain on sale of available-for-sale securities Gain on sale of discontinued operations Income taxes attributed to discontinued operations Loss on sale of building Loss on write-down of inventory to NRV Unrealized loss on trading securities Income tax expense Dividends declared (common stock) Dividends declared (preferred stock) Common stock outstanding 30,000 240,000 95,000 75,000 25,000 40,000 6,000 47,000 187,000 90,000 40,000 1,600,000 shares

4. Roland Carlson: disc ops The following data is from the records of Roland Carlson Inc. for the year ended December 31, 2021. $ 850,000 1,900,000 Cost of goods sold Sales revenue Sales discounts General and administrative expenses Gain on sale of available-for-sale securities Gain on sale of discontinued operations Income taxes attributed to discontinued operations Loss on sale of building Loss on write-down of inventory to NRV Unrealized loss on trading securities Income tax expense Dividends declared (common stock) Dividends declared (preferred stock) Common stock outstanding 30,000 240,000 95,000 75,000 25,000 40,000 6,000 47,000 187,000 90,000 40,000 1,600,000 shares

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2E: Cost of Goods Sold and Income Statement Schuch Company presents you with the following account...

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