On January 1. 201?. Martinez Inc. had cash and common stock of$63.350. At that date. the company had no other asset. liability. or equity balances.
On January 2, 201?, it purchased for cash $20,540 of debt securities that it classied as available-for-sale
Cheyenne Corporation has retained earnings of $6?9.600 at Januaryr 1, 201?. Net income during 201? was $1,649,300. and cash dividends
declared and paid during 201? totaled $?8,500. Prepare a retained earnings statement for the year ended December 31, 201?
Ivanhoe Corporation had income from continuing operations of $10,242,900 in 201?. During 201?, it disposed of its restaurant division at an after-
tax loss of $202,200. Prior to disposal, the division operated at a loss of $323,900 (net oftax) in 201? (as
Sheridan Corporation reported the following for 201?: net sales $1,220,300, cost of goods sold $?29,000, selling and administrative expenses
$331,600. and an unrealized holding gain on available-forsale securities $16,300.
Your answer is correct.
Included in Sarasota Company's December 31, 2017, tnal balance are thelollnwing accounts: Accounts Payable $249,500, Pension Llablllty $375,200, Dlscnunt on Hands Payable $33,000, Unearned Rent Revenue $43,700, Bends Payable $400,900, Salanes and Wages Pa
Martinez Co. reports the following information for 201?: sales revenue $?68,300, cost of goods sold $516,000, operating expenses $85,000, and an
unrealized holding loss on availableforsale securities for 201? of $60,?00. It declared and paid a cash divide
Peari Corporation had the roiiowino 2017 income statement.
Saies revenue $192,000
Cost ol goods sold 122,000
Gross prot 70,000
Operating expenses (includes depreciation of $19,000) 55,000
Net income 515,000
The loilowing accounts increased during 2017: Ac