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AleksandrR [38]
3 years ago
13

Presented below is information related to Crane Company at December 31, 2020, the end of its first year of operations.

Business
1 answer:
pshichka [43]3 years ago
5 0

Answer:

Follows are the solution to the given points:

Explanation:

In point a:

Formula:

= \text{sales-Cost of product sold -Selling and Administrative expense}

=316,550-150,400-53,900\\\\=112,250

In point b:

Formula:

=\text{Income from operation + Gain on sale of plant assets} - \text{Interest Expense} -\text{Loss from discontinued operations}\\\\=112,250+30,560- 5,840- 11,990\\\\=124,980

In point c:

Formula:

=\text{Net Income-  Allocation to noncontrolling interest}

= 124,980 - \text {missing value}

In point d:

Formula:

=\text{Net Income+ Unrealized gain on available for sale debt investments}\\\\= 124,980- 9,460\\\\=115,520

In point e:

Formula:

=\text{Net Income - Dividends declared and paid}\\\\=124,980- 4730\\\\=120,250\\\\

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