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Compute the income from operations

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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.

Reference no: EM132925428

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