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How much realised earnings would be shown

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Question - The following pre-tax amounts pertain to Han Ac Sock Company for the year ended December 31. 2020: Sales - P800000; Distribution and administrative costs - P84,000; Other income - P40.000: Interest expense - P4,000; Cost of goods sold - P430000: Correction of prior period error (credit) - P16,000; Discontinued operations {debit} __ P40,000; Cumulative effect of change in accounting policy (credit) _ P28,000; Retained earnings, January 1 (not restated) - P160900; Dividends declared - P12,000; Income tax rate is 30%. How much realised earnings would be shown on December 31, 2020 statement of financial position?

Reference no: EM133073659

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