The following information was taken from the records of Swifty SA for the year 2022: Income tax applicable to income from continuing operations R$100,000; income tax applicable to loss on discontinued operations R$21,400, and unrealized holding gain on equity securities designated at fair value through other comprehensive income R$12,600. Gain on sale of plant assets Loss on discontinued operations Administrative expenses Rent revenue Loss on impairment of land R$80,000 63,000 202.000 34,000 50,400 Cash dividends declared Retained earnings January 1, 2022 Cost of goods sold Selling expenses Sales revenue Ordinary shares outstanding during 2022 were 100.000. R$126.000 504,000 714,000 252,000 1,428,000
The following information was taken from the records of Swifty SA for the year 2022: Income tax applicable to income from continuing operations R$100,000; income tax applicable to loss on discontinued operations R$21,400, and unrealized holding gain on equity securities designated at fair value through other comprehensive income R$12,600. Gain on sale of plant assets Loss on discontinued operations Administrative expenses Rent revenue Loss on impairment of land R$80,000 63,000 202.000 34,000 50,400 Cash dividends declared Retained earnings January 1, 2022 Cost of goods sold Selling expenses Sales revenue Ordinary shares outstanding during 2022 were 100.000. R$126.000 504,000 714,000 252,000 1,428,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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a) Prepare a comprehensive income statement for 2022 using the one statement approach. (Round earnings per share to 2 decimal places, e.g. 1.48.)
b) Prepare a retained earnings statement for 2022. (List items that increase retained earnings first.)
Transcribed Image Text:The following information was taken from the records of Swifty SA for the year 2022: Income tax applicable to income from
continuing operations R$ 100,000; income tax applicable to loss on discontinued operations R$21,400, and unrealized holding gain on
equity securities designated at fair value through other comprehensive income R$12,600.
Gain on sale of plant assets
Loss on discontinued operations
Administrative expenses
Rent revenue
Loss on impairment of land
R$80,000
63,000
202.000
34,000
50,400
Cash dividends declared
Retained earnings January 1, 2022
Cost of goods sold
Selling expenses
Sales revenue
Ordinary shares outstanding during 2022 were 100,000.
R$126.000
504,000
714,000
252,000
1,428,000
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