The following information is related to Dickinson Company for 2017.Retained earnings balance, January 1, 2017Sales revenue 25,00
0,000Cost of goods sold 16,000,000Interest revenue 70,000Selling and administrative expenses 4,700,000Write-off of goodwill 820,000Income taxes for 2017 1,244,000Gain on the sale of investments 110,000Loss due to flood damage 390,000Loss on the disposition of the wholesale division (net of tax) 440,000Loss on operations of the wholesale division (net of tax) 90,000Dividends declared on common stock $ 250,000Dividends declared on preferred stock 80,000Dickinson Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2017, there were 500,000 shares of common stock outstanding all year.InstructionsPrepare a multiple-step income statement and a retained earnings statement.
The answer and procedures of the exercise are attached in a microsof excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Skills that can be used in multiple jobs or contexts are known as transferable skills. This category of skill covers many types of skills including basic skills such as teamwork, communication or problem-solving; personal quality skills such as honesty, empathy, or ethics; and thinking skills such as making decisions or organizing information. Moreover, these are all transferable skills because it is likely an individual requires these skills despite his profession or role. For example, both a doctor and a secretary might face challenges that require them to make decisions (thinking skill), use ethics to make the best decision (personal quality), and communicate this decision to others (basic skill.)
