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Income Statement Gross Profit Sales revenue-cost of goods sold-Gross profit 775.000-350.000-425,000 Presented below is information related to Be Company at December 31, 2017, the end of its first year of operations. Use a 25% tax rate Sales recome 5775,000 Dividends declared and paid 40,000 Interest expense 20,000 Selling med administrative expeces 125,000 Loson of plant assets 75,000 Unrealized loss on available for sale investments (pretar) 25,000 Test revenue 15,000 Gain on discontinued operations (pretar) 30,000 Allocation to controlling interest (after-tax) 50,000 Cost of goods sold 350,000 Compute the following 30 points Income from operations gross profit-S6A expenses income from operations 425,000-125,000-300,000 31 points Income before takes Operating income+Gain on Sale Interest expense 300,000-30,000-20,000-310,000 32 2 points Income from continuing operations Income before s-Income Tax expense-income from CONT operations 310.000-6.25 775.000) 193.750-116.250 33 points Net Income Net Income income from cont operations-Loss on discontinued operations 25 116 250.71750 34 2 points Net income attributable to Be Company's controlling stockholders Net income attributable net income-NI 35 2 point Comprehensive income comprehensive income Net income unreased gain 108.750+30,000-138.750 36 2 points Retained earnings balance at December 31, 2017 Net Income-dividend paid 108,750-40.000-68,750

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