Comprehensive problem

| September 28, 2018

In computing
earnings per share, assume that the average number of common shares outstanding
was 100,000 and preferred dividends were $100,000. (Round earnings per share to
the nearest cent.) Save your calculations and enter the requested amounts
below.
b.Prepare
a retained earnings statement for the year ended December 31, 2014. Save your
calculations and enter the requested amounts below.
c.Prepare
a balance sheet in report form as of December 31, 2014. Save your calculations
and enter the requested amounts below.
If required, only
use the minus sign to indicate net loss before income tax, net loss, or a
deficit balance in retained earnings.

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Gross profit

$

Total selling expenses

$

Total administrative expenses

$

Total operating expenses

$

Income from operations

$

Net other expenses and income

$

Income tax

$

Net income

$

Earnings per common share (rounded
to the nearest cent)

$

Retained earnings, January 1, 2014

$

Total current assets

$

Investment in Dream Inc. bonds

$

Total property, plant, and
equipment

$

Total assets

$

Total current liabilities

$

Net long-term liabilities

$

Total liabilities

$

Total paid-in capital preferred 5%
stock

$

Total paid-in capital common
stock, $20 par

$

Total paid-in capital

$

Retained earnings, December 31,
2014

$

Total stockholders’ equity

$

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