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Comprehensive: Income Statement and Retained Earnings Milwaukee Manufacturing Company presents the following partial list of account balances, after adjustments, as of December 31 , 2019: The following information is also available but is not reflected in the preceding accounts: a. The company sold Division E (a major component of the company) on August 2, 2019. During 2019, Division E had incurred a pretax loss from operations $16. However, because the acquiring company could vertically integrate Division E into its facilities, Milwaukee Manturing on the sale. b. On January 2, 2019, without warning, a foreign country expropriated a factory of Milwaukee Manufacturing which had been operating in that country. As a result of that expropriation, the company has incurred a pretax loss of $30,000. c. The common stock was outstanding for the entire year. A cash dividend of $1.20 per share was declared and paid in 2019. d. The 2019 income tax expense totals $31,050 and consists of the following: Required: 1. As supporting documents for Requirement 2 , prepare separate supporting schedules for selling expenses and for general and administrative expenses (include 1. As supporting documents for Requirement 2, prepare separate supporting schedules for selling expenses and for general and administrative expenses (include depreciation expense where applicable in these schedules). Enter all amounts as positive numbers. MILWAUKEE MANUFACTURING COMPANY For Year Ended December 31, 2019 1. As supporting documents for Requirement 2, prepare separate supporting schedules for selling expenses and for general and administrative expenses (include depreciation expense where applicable in these schedules). Enter all amounts as positive numbers. MILWAUKE MANUFACTURING COMPANY 2. Prepare a 2019 multiple-step income statement for Milwaukee Manufacturing. Round earnings per share computations to two decimal places. 2. Prepare a 2019 multiple-step income statement for Milwaukee Manufacturing. Round earnings per share computations to two decimal places. MILWAUKEE MANUFACTURING COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Total operating expenses Other items Results from discontinued operations Components of Income EPS 3. Prepare a statement of Retained Earnings for the year ended December 31, 2019. 4. What was Milwaukee Manufacturing Company's return on stockholders' equity for 2019 if its average stockholders' equity during 2019 was $500,000 ? Enter percentage as whole number. Return on stockholders' equity = % 5. If Milwaukee Manufacturing used IFRS, its income statement in Requirement 2 , it

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