The following information relates to Sunland Company for the year 2022.Retained earnings, January 1, 2022 $46,080 Advertising expense $1,730Dividends during 2022 4,800 Rent expense 9,980Service revenue 60,000 Utilities expense 2,980Salaries and wages expense 26,880 Other comprehensive income (net of tax) 380     After analyzing the data, compute net income.Net income / (loss) $enter net income or loss amount   LINK TO TEXT   Prepare a comprehensive income statement for the year ending December 31, 2022.Sunland CompanyComprehensive Income Statementchoose the accounting period December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022select a comprehensive income item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss) $enter a dollar amount select an opening section name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss) enter a dollar amount select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss) $enter a total amount for this statement

Question
Asked Sep 30, 2019
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The following information relates to Sunland Company for the year 2022.

Retained earnings, January 1, 2022
  $46,080  
Advertising expense
  $1,730
Dividends during 2022
  4,800  
Rent expense
  9,980
Service revenue
  60,000  
Utilities expense
  2,980
Salaries and wages expense
  26,880  
Other comprehensive income (net of tax)
  380
 
 
 
 
 
After analyzing the data, compute net income.

Net income / (loss)   $enter net income or loss amount
 

 
 

LINK TO TEXT
 
 
 
Prepare a comprehensive income statement for the year ending December 31, 2022.

Sunland Company
Comprehensive Income Statement
choose the accounting period
 December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022
select a comprehensive income item
 DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)
  $enter a dollar amount
 
select an opening section name
 DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)
  enter a dollar amount
 
select a closing name for this statement
 DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)
  $enter a total amount for this statement
 
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Expert Answer

Step 1

Calculate net income...

Particulars
Amount
Service revenue
Less: Expenses:
Salaries and wages expense
Advertising expense
Rent expense
Utilities expense
Total expenses
$60,000
$26,880
$1,730
$9,980
$2,980
$41,570
$18,430
Net income
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Particulars Amount Service revenue Less: Expenses: Salaries and wages expense Advertising expense Rent expense Utilities expense Total expenses $60,000 $26,880 $1,730 $9,980 $2,980 $41,570 $18,430 Net income

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