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b) Prepare a statement of retained earnings for the year ended December 31, 2015. As originally reported, retained earnings at December 31, 2014, amounted to $10,700,000. Statement of Retained Earnings Retained earnings, December 31, 2015 c) Calculate EPS using net income. Beach Inc. had 200,000 shares of common stock. Outstanding preferred stock value is $600,000./

b) Prepare a statement of retained earnings for the year ended December 31, 2015. As originally reported, retained earnings at December 31, 2014, amounted to $10,700,000. Statement of Retained Earnings Retained earnings, December 31, 2015 c) Calculate EPS using net income. Beach Inc. had 200,000 shares of common stock. Outstanding preferred stock value is $600,000./

Intermediate Accounting: Reporting And Analysis
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 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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b) Prepare a statement of retained earnings for the year ended December 31, 2015. As originally reported, retained earnings at December 31, 2014, amounted to $10,700,000. Statement of Retained Earnings Retained earnings, December 31, 2015 c) Calculate EPS using net income. Beach Inc. had 200,000 shares of common stock. Outstanding preferred stock value is $600,000. /
Transcribed Image Text:b) Prepare a statement of retained earnings for the year ended December 31, 2015. As originally reported, retained earnings at December 31, 2014, amounted to $10,700,000. Statement of Retained Earnings Retained earnings, December 31, 2015 c) Calculate EPS using net income. Beach Inc. had 200,000 shares of common stock. Outstanding preferred stock value is $600,000. /
3. The following data relate to the operations of Delicious, Inc., during 2015. Continuing operations: Net sales $37,400,000 Costs and expenses (including applicable income tax) 21,500,000 Other data: Operating income during 2015 on segment of the business Discontinued near year-end 205,000 Loss on disposal of discontinued segment (net of income tax 510,000 benefit Extraordinary loss (net of income tax benefit) 930,000 Prior period adjustment (increase in 2014 amortization 310,000 expense, net of income tax benefit Cash dividend declared 2,000,000 a) Prepare a condensed income statement for 2015 Condensed Income Statement Net Income
Transcribed Image Text:3. The following data relate to the operations of Delicious, Inc., during 2015. Continuing operations: Net sales $37,400,000 Costs and expenses (including applicable income tax) 21,500,000 Other data: Operating income during 2015 on segment of the business Discontinued near year-end 205,000 Loss on disposal of discontinued segment (net of income tax 510,000 benefit Extraordinary loss (net of income tax benefit) 930,000 Prior period adjustment (increase in 2014 amortization 310,000 expense, net of income tax benefit Cash dividend declared 2,000,000 a) Prepare a condensed income statement for 2015 Condensed Income Statement Net Income
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