Exercise 9-2 Blue Spruce Corp. has income from continuing operations of $437,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $50,700 on available-for-sale securities.
2. A gain of $24,000 on the discontinuance of a division (comprised of a $9,100 loss from operations and a $33,100 gain on disposal).
3. A correction of an error in last yearâs financial statements that resulted in a $20,000 understatement of 2016 net income.

Assume all items are subject to income taxes at a 18% tax rate.

Required:
Prepare a statement of comprehensive income, beginning with income from continuing operations.

Which of the following statements is correct? a) due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u. s. businesses (in terms of number of businesses) are organized as corporationsb) most businesses (by number and total dollar sales) are organized as proprietorships or corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, primarily because corporations have important tax advantages over proprietorships and partnerships. c) due to legal considerations related to ownership transfers and limited liability, which affect the ability to attract capital, most business (measured by dollar sales) is conducted by corporations in spite of large corporations' less favorable tax treatmentd) large corporations are taxed more favorably than proprietorshipse) corporate stockholders are exposed to unlimited liability

For many years, kellogg's frosted flakes, a ready-to-eat breakfast cereal, was perceived as a cereal for children. tony the tiger, a cartoon character, extolled frosted flakes, and advertisements depicted children enjoying the product with tony in competitive situations. recently, in response to declining sales of frosted flakes, the cereal maker has adopted a new series of advertisements that show adults admitting that they enjoy frosted flakes, too. kellogg's is attempting to

Required information [the following information applies to the questions displayed below.] the following data is provided for garcon company and pepper company. garcon company pepper company beginning finished goods inventory $ 13,800 $ 18,850 beginning work in process inventory 16,700 20,700 beginning raw materials inventory 8,800 13,500 rental cost on factory equipment 28,250 26,650 direct labor 22,400 37,400 ending finished goods inventory 17,300 14,300 ending work in process inventory 23,200 19,400 ending raw materials inventory 5,900 9,600 factory utilities 11,250 15,000 factory supplies used 10,900 5,700 general and administrative expenses 32,500 44,500 indirect labor 2,500 9,880 repairs—factory equipment 4,820 2,150 raw materials purchases 41,500 63,000 selling expenses 54,800 49,000 sales 238,530 317,510 cash 33,000 23,700 factory equipment, net 222,500 124,825 accounts receivable, net 13,400 23,950 required: 1. complete the table to find the cost of goods manufactured for both garcon company and pepper company for the year ended december 31, 2017. 2. complete the table to calculate the cost of goods sold for both garcon company and pepper company for the year ended december 31, 2017.