Presented below is information related to Viel Company at December 31, 2025, the end of...
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Accounting
Presented below is information related to Viel Company at December 31, 2025, the end of its first year of operations.
Sales revenue $310,000
Cost of goods sold 140,000
Selling and administrative expenses 50,000
Gain on sale of plant assets 30,000
Unrealized gain on available-for-sale debt investments 10,000
Interest expense 6,000
Loss on discontinued operations 12,000
Dividends declared and paid 5,000
Instructions Compute the following: (a) income from operations, (b) net income, (c) comprehensive income, and (d) retained earnings balance at December 31, 2025. (Ignore income tax effects.) Please use the multi-step approach.
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