The following information was taken from the records of Nash SA for the year 2022: Income tax applicable to income from continuing operations R$97,600; income tax applicable to loss on discontinued operations R$20,900, and unrealized holding gain on equity securities designated at fair value through other comprehensive income R$12,300.
Gain on sale of plant assets
R$78,000
Cash dividends declared
R$123,000
Loss on discontinued operations
61,500
Retained earnings January 1, 2022
492,000
Administrative expenses
197,000
Cost of goods sold
697,000
Rent revenue
33,000
Selling expenses
246,000
Loss on impairment of land
49,200
Sales revenue
1,394,000
Ordinary shares outstanding during 2022 were 100,000.