Business, 14.06.2021 16:10 emmie50

Presented below are selected ledger accounts of Skysong Corporation as of December 31, 2020. Cash $45,000
Administrative expenses 90,000
Selling expenses 72,000
Net sales 486,000
Cost of goods sold 189,000
Cash dividends declared (2020) 18,000
Cash dividends paid (2020) 13,500
Discontinued operations (loss before income taxes) 36,000
Depreciation expense, not recorded in 2019 27,000
Retained earnings, December 31, 2019 81,000
Effective tax rate 20%

Required:
Compute net income for 2020.

Answers: 2

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Presented below are selected ledger accounts of Skysong Corporation as of December 31, 2020. Cash $...

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