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Tussle Company began operations on January 1,2014,and appropriately uses the installment method of accounting.The following data are available for 2014 and 2015:
The realized gross profit for 2015 is
Preferred Dividends
Dividends that are paid out to preferred shareholders before any dividends are distributed to common shareholders, typically at a fixed rate.
Cash Dividend
A distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders in cash.
State Corporation Laws
Regulations established by individual states governing the formation, operation, and dissolution of corporations within their jurisdiction.
Comprehensive Income Items
Components of comprehensive income that represent all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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