Presented below is information related to Sweet Company at December

Presented below is information related to Sweet Company at December 31, 2017, the end of its first year of operations.

Sales revenue $308,760 Cost of goods sold 142,980 Selling and administrative expenses 52,600 Gain on sale of plant assets 28,760 Unrealized gain on available-for-sale investments 9,390 Interest expense 5,580 Loss on discontinued operations 11,280 Dividends declared and paid 4,870

Compute the following:

(a) Income from operations

(b) Net income

(c) Comprehensive income

(d) Retained earnings balance at December 31, 2017

Here’s the SOLUTION

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