Reference no: EM131748833
Question: The following items were taken from the adjusted trial balance of the Bremeur Corporation on 31 December 20×5. Assume an average 20% income tax on all items (including the divestiture loss). The accounting period ends 31 December. All amounts given are pretax and are subject to the same income tax rate. Bremeur had 30,000 shares outstanding at the beginning of the year. On 31 August 20×5, an additional 9,000 shares were issued; at the end of 20×5, 39,000 shares were outstanding.
sales revenue from continuing operations 695,000
revenue in business segment being discontinued 75,000
rent revenue 2,400
interest revenue 900
gain on sale of investments 2,000
distribution expenses 136,000
general and admin expenses 110,000
operating expenses in business segment being discontinued 78,000
interest exoense 1,500
dep and amort 6,000
settlement of legal claims against company 10,000
asset impirments, discontinued operation 12,000
cost of good sold 330,000
Required: Prepare a multi-step Statement of Comprehensive Income, in good form, on functional basis.