PROBLEMIV-PARTIAL INCOME STATEMENT (10 POINTS) Mulniple-step income statement-Pr

Question

PROBLEMIV-PARTIAL INCOME STATEMENT (10 POINTS) Mulniple-step income statement-Preented below is information related to Manna Z. Compary for the year 2015. Note that all the accounts will not be needed. Number shares issuedw Numbsr shares purchased as Treasuy Stock 1,500,000 500,000 Income from Continuing Operations Cash Dividends Declared and Baid.on Common Stock Cash Dividends Declared and Paidon Preferred Stock...... Beginning Accumulative Comprehensive Income (credit balansei Unrealized GAIN ga,ANailable for Sale Securities 5,000,000 350,000 200,000 400,000 150,000 50,000 80,000 200,000 Dividend and Interest Revenue Realized Loss (pretax Disposal of a segment of the Corporation Income from continuing operations EPS EPS Net Incomew EPS Other Comprehensive Income (lotal) Comprehensive Income Ending Balance--Accumulated Comprehensive

Explanation / Answer

Income from continuing operations 5000000 EPS 5000000/(1500000-500000)= 5 Realised loss( pretax)Disposal of a segment of the Corporation -200000 EPS -200000/(1500000-500000)= -0.2 Net Income 4800000 EPS 4800000/(1500000-500000)= 4.8 Other comprehensive Income 400000 Unrealised Gain on AFS 150000 Unrealised Loss on Tr.sec. -50000 Ending balance-AOCI 500000 Note: Income from continuing operations of 5000000 is only after Unrealised loss on trading securities - 50000 & Dividend& interest revenue-- 80000 Cash dividends declared& paid on common stock-350000 & Cash dividends declared& paid on preferred stock-200000 Is out of retained earnings account

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