The ledger of Sunland Corporation at November contains the following summary data:
Cash
dividends
$
Operatingexpenses
$
common
Cash
dividends Othercomprehensive incomelosson equity invest ments before incometax
preferred
Common
shares
Rent revenue
Cost of goods
sold
Preferred shares t noncumulative
Depreciation
expense
Retained earnings December
Sales
Your analysis reveals the following additional information:
Thecompany has a incometax rate
Thecommunications devicesdivision was discontinued on August The profit fromoperations for the division up to
that day was $ before income tax. The division was sold at a loss of $ p before incometax.
There were common and p referred shares issued on December with no changes du ring the year.
SUNLANDCORPORATION
Income Statement
