E4-2B (Compute Income Measures) Presented below is information related to Copa Corporation at December 31, 2014, the end of its first year of operations.

E4-2B (Compute Income Measures) Presented below is information related to Copa Corporation at December 31, 2014, the end of its first year of operations.

Sales revenue                                $536,000             Loss on sale of investments                                   5,000

Cost of goods sold                          363,000             Allocation to non-controlling interest                   23,000

Interest expense                                31,500             Unrealized gain on available-for-sale

Selling and administrative                                         financial assets                                                       16,000

expenses                                          110,500              Gain on discontinued operations                        18,000

Dividends declared and paid          10,000

Instructions

Compute the following: (a) income from operations, (b) net income, (c) net income attributable to Copa Corporation controlling shareholders, (d) comprehensive income, and (e) retained earnings balance at December 31, 2014.