The following information is related to Kingbird Company for 2020.

Retained earnings balance, January 1, 2020 $1,274,000
Sales Revenue 32,500,000
Cost of goods sold 20,800,000
Interest revenue 91,000
Selling and administrative expenses 6,110,000
Write-off of goodwill 1,066,000
Income taxes for 2020 1,617,200
Gain on the sale of investments 143,000
Loss due to flood damage 507,000
Loss on the disposition of the wholesale division (net of tax) 572,000
Loss on operations of the wholesale division (net of tax) 117,000
Dividends declared on common stock 325,000
Dividends declared on preferred stock 104,000

Kingbird Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Kingbird sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year.

1. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e. g. 1.49.)
2. Prepare a retained earnings statement.
(List items that increase retained earnings first.)

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e. g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

What do you think: would it be more profitable to own 200 shares of penny’s pickles or 1 share of exxon? why do you think that?

Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken