Question 3 of 12 . 124 View Policies Current Attempt in Progress The ledger of...
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Question 3 of 12 . 124 View Policies Current Attempt in Progress The ledger of Cullumber Corporation at November 30, 2021, contains the following summary data: Cash dividends-common $72.000 $1.124,000 Cash dividends-preferred 25.000 94,000 327.000 Operating expenses Other comprehensive income-loss on equity investments (before income tax) Rent revenue Preferred shares ($5 noncumulative) Retained earnings, December 1, 2020 62.000 Common shares Cost of goods sold Depreciation expense Sales 7.420,000 404,000 755,000 364,000 9,034.000 Your analysis reveals the following additional information: 1 2. The company has a 25% income tax rate. The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $19.800 before income tax. The division was sold at a loss of $82,000 before income tax. There were 200,000 common and 5,000 preferred shares issued on December 1, 2020, with no changes during the year. 3. Prepare a multiple-step income statement for the year. CULLUMBER CORPORATION Income Statement Question Part Score Prepare a statement of comprehensive income as a separate statement CULLUMBER CORPORATION Statement of Comprehensive Income $ Question Part Score
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