Reference no: EM132925428
Question - Presented below is information related to Watt Company in its first year of operation. The following information is provided at December 31, 2015, the end of its first year.
Sales revenue €420,000
Cost of goods sold 210,000
Selling and administrative expenses 75,000
Gain on sale of plant assets 45,000
Unrealized gain on non-trading securities 15,000
Financing costs 10,000
Loss on discontinued operations 20,000
Allocation to non-controlling interest 60,000
Dividends declared and paid 12,000
Required - Compute the following (a) income from operations, (b) net income, (c) net income attributable to Watt Company shareholders, (d) comprehensive income, and (e) retained earnings balance at December 31, 2015.