Presented below is information related to Viel Company at December 31, 2014, the end of its first year of operations.
| Sales revenue |
|
$304,760 |
|
| Cost of goods sold |
|
143,470 |
|
| Selling and administrative expenses |
|
52,520 |
|
| Gain on sale of plant assets |
|
28,570 |
|
| Unrealized gain on available-for-sale investments |
|
11,270 |
|
| Interest expense |
|
6,360 |
|
| Loss on discontinued operations |
|
11,190 |
|
| Allocation to noncontrolling interest |
|
40,740 |
|
| Dividends declared and paid |
|
4,980 |
|
Compute the following:
a) Income from operations
b) Net Income
c) Net income from attributable to Viel Company's controlling shareholds
d) Comprehensive income
e) Retained earnings balance at December 31, 2014