The following information was taken from the records of Blue Inc. for the year 2020: Income tax applicable to income from continuing operations $228,140; income tax applicable to loss on discontinued operations $31,110, and unrealized holding gain on available-for-sale securities (net of tax) $18,300. Gain on sale of equipment $115,900 Cash dividends declared $183,000 Loss on discontinued operations 91,500 Retained earnings January 1, 2020 3,000,000 Administrative expenses 292,800 Cost of goods sold 1,037,000 Rent revenue 48,800 Selling expenses 366,000 Loss on write-down of inventory 73,200 Sales Revenue 2,318,000 Shares outstanding during 2020 were 100,000. (a)

Prepare a single-step income statement.
Prepare a comprehensive income statement for 2020, using the two statement format.
Prepare a retained earnings statement for 2020.

Aztic inc., a manufacturer of sports goods, plans to expand its operations to various other countries. during market research, it avoids countries where the dominant population is mostly rural. in this case, aztic inc. is assessing the of the countries

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .

According to management education expert ashok rao, companies can increase their profitability by through careful inventory management. a. 5% to 10% b. 10% to 25% c. 20% to 50% d. 75%