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Dominik [7]
3 years ago
7

The management accountant for Giada's Book Store has prepared the following income statement for the most current year: Cookbook

Travel Book Classics Total Sales $63,000 $179,000 $60,000 $302,000 Cost of goods sold 37,000 70,000 23,000 130,000 Contribution margin 26,000 109,000 37,000 172,000 Order and delivery processing 19,000 26,000 9,000 54,000 Rent (per sq. foot used) 3,000 3,000 3,000 9,000 Allocated corporate costs 10,000 10,000 10,000 30,000 Corporate profit $ (6,000) $70,000 $15,000 $79,000 If the cookbook product line had been discontinued prior to this year, the company would have reported ________. the same amount of corporate profits less corporate profits greater corporate profits resulting profits cannot be determined
Business
1 answer:
mylen [45]3 years ago
6 0

Answer:

the company would have reported loss

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On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 74,000 shares authori
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<u>Contributed capital</u>

Common Stock                             740,000

Paid in capital in excess of           <u>226,000</u>

par value-Common Stock

Total paid in capital                        966,000

Retained earnings                         <u> 880,000</u>

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