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As of S600,000. Prepare the Stockholders' equity section of the classified balamce sheet for 12/31/22. 112pt)

As of S600,000. Prepare the Stockholders' equity section of the classified balamce sheet for 12/31/22. 112pt)

Corporate Fin Focused Approach
Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter2: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 14SP
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A Question Completion Status: 1 2 3 5 8 9 10 11 12 13 14 15 Close Window A Moving to another question will save this response. Question 2 of 15 Save Answer Question 2 XYZ reports the following information for 2022: sales revenue $1,000,000; cost of goods sold $500,000; operating expenses $290,000; gain on sale of land $50,000; an unrealized gaun in the value of the office building of $160,000; an unrealized loss on available-for-sale securities of $40,000; and an unrealized gain in the value of the company's reputation of S100,000. It declared cash dividend of $150,000 (of which $37,500 will be paid 1/15/23) in 2022. The company issued 15,000 shares on 8/1/22 for equipment valued at $70,000and 10,000 shares on 4/1/22 for $50,000. Tax rate for 2022 is 20%. As of 12/31/21, XYZ has common stock PV $3, issued 100,000 shares at an average issue price of $4.50; accumulated other comprehensive income S120,000; and retained earmings S600,000. Prepare the Stockholders' equity section of the classified balance sheet for 12/31/22. T -E - 3 (12pt) TT T. Arial
Transcribed Image Text:A Question Completion Status: 1 2 3 5 8 9 10 11 12 13 14 15 Close Window A Moving to another question will save this response. Question 2 of 15 Save Answer Question 2 XYZ reports the following information for 2022: sales revenue $1,000,000; cost of goods sold $500,000; operating expenses $290,000; gain on sale of land $50,000; an unrealized gaun in the value of the office building of $160,000; an unrealized loss on available-for-sale securities of $40,000; and an unrealized gain in the value of the company's reputation of S100,000. It declared cash dividend of $150,000 (of which $37,500 will be paid 1/15/23) in 2022. The company issued 15,000 shares on 8/1/22 for equipment valued at $70,000and 10,000 shares on 4/1/22 for $50,000. Tax rate for 2022 is 20%. As of 12/31/21, XYZ has common stock PV $3, issued 100,000 shares at an average issue price of $4.50; accumulated other comprehensive income S120,000; and retained earmings S600,000. Prepare the Stockholders' equity section of the classified balance sheet for 12/31/22. T -E - 3 (12pt) TT T. Arial
Remaining Time: 2 hours, 59 minutes, 19 seconds. AQuestion Completion Status: 1 2 3 4 5 8 10 11 TV. TIhe CoiporaION deciareu 5T00 Of COMIION UIViueIUS (OI WIICI S2J WIII ve paru JaIIuary 1), 20ZZ). 12 13 14 15 Required: Based on the all of the information provided, answer the following questions as they would appear in a single, continuous multinle-step statement of comprehensIve income for 2021 and a statement of retained earnings as of 12/31/21.. Round all numbers except earnings per share to whole numbers. Select and copy sections 1-15 below to answer in the space provided 1. Net Sales 2. Gross profit 3. Total operating expenses 4. Operating income 5. Total other revenue/(expense) 6. Income before Tax 7. Income tax expense 8. Income from continuing operations (IFCO) 9. Discontinued operations 10. Net income 11. Other comprehensive income 12. Comprehensive income 13. Weighted Average Common Shares per share (IFCO only) 15. 3 (12pt) v T-E- Arial ттт
Transcribed Image Text:Remaining Time: 2 hours, 59 minutes, 19 seconds. AQuestion Completion Status: 1 2 3 4 5 8 10 11 TV. TIhe CoiporaION deciareu 5T00 Of COMIION UIViueIUS (OI WIICI S2J WIII ve paru JaIIuary 1), 20ZZ). 12 13 14 15 Required: Based on the all of the information provided, answer the following questions as they would appear in a single, continuous multinle-step statement of comprehensIve income for 2021 and a statement of retained earnings as of 12/31/21.. Round all numbers except earnings per share to whole numbers. Select and copy sections 1-15 below to answer in the space provided 1. Net Sales 2. Gross profit 3. Total operating expenses 4. Operating income 5. Total other revenue/(expense) 6. Income before Tax 7. Income tax expense 8. Income from continuing operations (IFCO) 9. Discontinued operations 10. Net income 11. Other comprehensive income 12. Comprehensive income 13. Weighted Average Common Shares per share (IFCO only) 15. 3 (12pt) v T-E- Arial ттт
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