Bodalis Corp. reports the folowing information for the calendar year ended Decem
ID: 2425967 • Letter: B
Question
Bodalis Corp. reports the folowing information for the calendar year ended December 31, 2015 $750.000 Sales revenue Cost of goods sold Selling expenses Gain on sale of factory building Interest expense Loss on discontinued operations, net Unrealized holding loss on available-for-sale securities-$ 50,000 $ 50,000 S 30.000 $ 40,000 s 50,000 of tax6 70,000 Income tax expense 28,000 Bodalis declared and paid a cash dividend of $10,000 in 2015 Bodalis has the following January 1, 2015 balances: Common Stock $350.000 Accumulated other comprehensive income $80,000, and Retained Earmings $95.000. R issued no stock during 2015 Brblis CorpExplanation / Answer
Other Revenue= Gain on sale of Building $40000
I will show you the proper format in which figures are entered Income Statement Sales Revenue $750,000 COGS 500000 Gross Profit $250,000 Selling Expenses 50000 Administrative Expeneses $30,000 ($80,000) Other Revenue Gain on sale of Factory Buliding $40,000 $40,000 Income from operations $210,000 Interest Expense -50000 Income before Income tax $160,000 Income tax expense $28,000 Income From continuing Operation $132,000 Loss from Discountinuing Opeartion 70000 Net Income $62,000 EPS 62000/350000 $0.18 Net Income $62,000 Other comprehensive Income/Loss Unrealized holding Loss -50000 Comprehensive Income $12,000