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KIM [24]
3 years ago
14

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.
Business
1 answer:
seraphim [82]3 years ago
5 0

Answer

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.

Download xlsx
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A perfectly competitive firm will produce the quantity of output at which _______ = _______ to determine the profit maximizing o
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Explanation:

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3 years ago
A portfolios is composed of two stocks, A and B. Stock A has a standard deviation of return of 19%, while stock B has a standard
Brums [2.3K]

Answer:

0.536

Explanation:

The computation of the correlation coefficient is shown below:-

\sigma^2_A \times w^2_A + \sigma^2_B \times w^2_B + 2\times w_A \times w_B \times \rho_{AB} \times \sigma_A \times \sigma_B = 0.034

0.19^2 \times 0.70^2 + 0.25^2\times 0.30^2 + 2*0.70 \times 0.30 \times \rho_{AB} \times 0.19\times 0.25 = 0.034

0.023314 + 0.01995 \times \rho_{AB} = 0.034

0.01995 \times \rho_{AB} = 0.010686\\\\\rho_{AB} = 0.536

Therefore for computing the correlation coefficient between the returns on A and B we simply applied the above formula.

So, according to the question the option is not available. The right answer is 0.536 and the same is not considered

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<h3>What is National Foundation for Consumer Credit (US)?</h3>

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