Reference no: EM132317250
Question
Presented below is information related to Wise Company at December 31, 2017, the end of its first year of operations.
Sales revenue $775,000
Cost of goods sold 350,000
Selling and administrative expenses 125,000
Gain on sale of plant assets 75,000
Unrealized gain on available-for-sale investments 25,000
Interest expense 15,000
Loss on discontinued operations 30,000
Allocation to noncontrolling interest 100,000
Dividends declared and paid 12,000
Compute the following. Ignore income tax effects.
(a) Income from operations$
(b) Net income$
(c) Net income attributable to Wise Company's controlling stockholders$
(d) Comprehensive income$
(e) Retained earnings balance at December 31, 2017$