Reference no: EM133157714
Question - Presented below is information related to Crane Company at December 31, 2020, the end of its first year of operations.
Sales revenue $796,000
Cost of goods sold 356,000
Selling and administrative expenses 139,000
Unusual gain on sale of plant assets 74,000
Unrealized gain on available-for-sale investments 45,000
Interest expense 23,000
Loss on discontinued operations 32,000
Allocation to non-controlling interest 103,000
Dividends declared and paid 17,000
Required - Compute the following. Ignore income tax effects.
(a) Income from operations $
(b) Net income $
(c) Net income attributable to Crane Company's controlling stockholders $
(d) Comprehensive income $
(e) Retained earnings balance at December 31, 2020.
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