Oiseau Inc. reported the following for 2019:

Home Inc. reported the following for 2020:

Home Inc. reported the following for 2020:Net sales .......................................................................................... $ 1,500,000Cost of goods sold ......................................................................... 750,000Selling and admin expenses ........................................................ 310,000Loss on disposal of equipment ..................................................... 50,000Unrealized gain (OCI) on FV-OCI investment (net of tax of $6,000) 14,000Loss on disposal of discontinued division (net of tax of $9,000) 21,000Home Inc.’s income tax rate is 30%.On Home Inc.’s multiple-step income statement for 2020, Net Income isSelect one:a.$243,000b.$360,000c.$252,000d.$369,000Clear my choice

Lunar Eclipse Inc. follows IFRS and has the following amounts for the year ended December 31,...

Lunar Eclipse Inc. follows IFRS and has the following amounts for the year ended December 31, 2018: gain on sale of FV-NI investments (before tax), $15,000; loss from operation of discontinued division (net of tax), $42,000; income from operations (before tax), $220,000; unrealized holding gain-OCI (net of tax), $12,000; income tax on income from continuing operations, $63,000; loss from disposal of discontinued division (net of tax), $75,000. The unrealized holding gain-OCI relates to investments that are not quoted in an...

Question 3.4 (Total: 18 marks) Lunar Eclipse Inc. follows IFRS and has the following amounts for...

Question 3.4 (Total: 18 marks) Lunar Eclipse Inc. follows IFRS and has the following amounts for the year ended December 31, 2020: gain on sale of FV-NI investments (before tax), $15,000; loss from operation of discontinued division (net of tax), $42,000; income from operations (before tax), $220,000; unrealized holding gain-OCI (net of tax), $12,000; income tax on income from continuing operations, $63,000; loss from disposal of discontinued division (net of tax), $75,000. The unrealized holding gain-OCI relates to investments that...

Bramble Corporation reported the following for 2020: net sales $1,222,800, cost of goods sold $734,300, selling...

Bramble Corporation reported the following for 2020: net sales $1,222,800, cost of goods sold $734,300, selling and administrative expenses $322,600, and an unrealized holding gain on available-for-sale debt securities $16,000. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) BRAMBLE CORPORATION Statement of Comprehensive Income choose the accounting period                                                                     ...

In its income statement for the year ended December 31, 2019, Larkspur, Inc. reported the following...

In its income statement for the year ended December 31, 2019, Larkspur, Inc. reported the following condensed data. Prepare a multiple-step income statement. Operating expenses $ 748,970 Interest revenue $ 30,060 Cost of goods sold 1,348,800 Loss on disposal of plant assets 18,640 Interest expense 74,260 Net sales 2,409,600 Other comprehensive income 6,720

4. Silas Company reported the following information for 2019: Sales revenue $600,000 Cost of goods sold...

4. Silas Company reported the following information for 2019: Sales revenue $600,000 Cost of goods sold 350,000 Operating expenses 55,000 Unrealized holding gain on available-for-sale securities 20,000 Cash dividends received on the securities 2,000 For 2019, Silas would report other comprehensive income of 5. The DEREAN Inc, shows the following balances at September 30, 2020. Cash paid to suppliers for goods was 685,000 AED. Oct.1, 2019 September 30,2020 Inventory 245,000 120,000 Account Payables 95,000 45,000 What was cost of goods...

Metlock Corporation reported the following for 2020: net sales $1,236,500, cost of goods sold $729,000, selling...

Metlock Corporation reported the following for 2020: net sales $1,236,500, cost of goods sold $729,000, selling and administrative expenses $329,900, and an unrealized holding gain on available-for-sale debt securities $20,700. a) Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) b) Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.)

Hendrik, Inc., a retail company, has the following data for the year ended December 31, 2019:...

Hendrik, Inc., a retail company, has the following data for the year ended December 31, 2019:                   Sales Revenue          $600,000                   Pretax loss from operation of discontinued division 15,000                   Cost of goods sold           165,000                   Pretax gains from foreign currency translation          30,000                   pretax deferred loss on derivative           50,000                  Pretax loss on disposal of discontinued division 10,000                   Selling expenses            15,000                   Administrative expenses            35,000                   Interest revenue                     98,000                    Loss on write-down of obsolete inventory 10,000...

The following information pertains to Inglewood Ltd. for the 2015 fiscal year ending December 31: Gain...

The following information pertains to Inglewood Ltd. for the 2015 fiscal year ending December 31: Gain on sale of held-for-trading investments (before tax): $ 1,500 Loss from operation of discontinued division (net of tax) 2,500 Loss from disposal of discontinued division (net of tax) 3,500 Income from operations (before tax) 125,000 Unrealized holding gain of Available-for-sale investments (net of tax) 12,000 The company tax rate is 27%. The unrealized holding gain from Available-for-sale investments relates to investments that are not...

Richmond Inc. reported income from operations during 2019 of $750,000. Additional transactions occurring in 2019 but...

Richmond Inc. reported income from operations during 2019 of $750,000. Additional transactions occurring in 2019 but not considered in the $750,000 are as follows: The corporation experiences an uninsured loss due to government determination of possible contamination in the amount of $55,000 before taxes during the year. The company had never experienced a similar situation in its history. The corporation decided to change from the weighted average method of inventory to the First-In First-Out method. The effect of this change...