Answer:
Return on total assets =7.09%Explanation:
Return on total asset is the proportion of the total amount invested in assets that is earned as net income. It is a measure of the efficiency of the use of assets to generate profit.
It is calculated as follows:
Return on total assets = Net Profit/Total assets× 100
Note that Total assets = Total liabilities + stockholder's equity
Data:
Total assets = 103,201 + 121,851 = 225,052
Net income = 15,953
Return on total assets = 15,953/225,052 × 100= 7.09%
Return on total assets =7.09%
Jackie is often surprised when she goes to other countries to learn that people do business so differently. For instance, in meetings Jackie is used to getting straight to the point and addressing any relevant issues. However, she has learned that in many countries businesspeople take the time to first make small talk and ask about the family before finally getting down to business. To Jackie this seems to make the meetings unnecessarily long and wastes valuable time. These cultural differences seem strange to Jackie because she is relying on her:________ a. self-reference principle b. international bias c. self-reference criterion d. cultural relativism e. ethical perspectives
Answer:
Self reference criterion ( C )
Explanation:
The cultural differences seem strange to Jackie because she is relying on her self reference criterion
self reference criterion is the influence one's culture will have on the person when the person is exposed to a situation that is suppose to portray the culture the person is used to, but the situation portrays a different culture, hence based on her cultural values and experience she believes that small talks makes the meeting unnecessarily long
The greatest importance of standing committees is that they ______.
a) permit the leadership to control the legislative process
b) give the president more power in the legislative process than he or she would have otherwise
c) control the influence of lobbyists on the legislative process
d) result in legislators who become experts in their committee's policy domain
Answer:
none of the above
Explanation:
Standing Committee is a term to describe a type of committee that is a mainstay and have a continual role, which is not specific to a particular assignment or undertaking.
Therefore, the greatest importance of standing committees is that they "increase congressional power by allowing detailed analysis and modification of legislation"
Hence, from the available options, there is none that is correct.
Balance Sheet Current assets Cash 910,000 Acc receivable not given Inventories 1,050,000 Fixed assets 3,710,000 TOTAL ASSETS 7,000,000 Current liabilities Acc payable not given Long-term debt 3,500,000 Common stock 560,000 Retained earnings 2,470,000 TOTAL LIAB and EQUITY 7,000,000 Income Statement Sales 14,000,000 Operating expense 11,200,000 EBIT 2,800,000 Interest expense 490,000 EBT 2,310,000 Taxes 924,000 Net income 1,386,000 What is the firm's quick ratio?
Answer:
4.77
Explanation:
The formula below is used to calculate quick ratio
Current assets - Inventories / Current liabilities
Account receivables =$1,330,000
Current assets = $3,290,000
Inventories = $1,050,000
Account payable = $470,000
Current liabilities = $470,000
Therefore,
Quick ratio = ($3,290,000 - $1,050,000) / $470,000
= 4.77
Total revenue minus total cost is equal to
Between quarter 10 and quarter 11, real GDP grew by what percentage?
a. 5%
b. 6%
c. 3%
d. 4%
e. –5%
Incomplete question.
However, let's assume the real GDP for quarter 10 was $45,000and for quarter 11 is $47,250.
Answer:
a. 5%
Explanation:
First, remember that the real GDP refers to the total value of all of the final goods and services produced in an economy during a given period (usually a year) after taking into account inflation.
To find the percentage increase, we subtract
$47250-$45,000 = $2250
Next, we find the percentage of the amount on $45,000
$2250/$45000 * 100 = 5%
Which of the following is the process the listener takes to assess the information received from the speaker?
A. Evaluating
B. Receiving
C. Providing feedback D. Understanding
Answer:
Explanation:
A- Evaluating
Olly & Sons is a construction company. The company started the year with $90,000 in the land account. During Year 2, Olly & Sons purchased multiple lots of land. The first lot cost $25,000, the second lot cost $28,000 and the third lot cost $31,000. The company sold one lot that had a cost of $50,000 for $50,000. What is the ending balance in the land account?
Answer:
$124,000
Explanation:
The computation of ending balance in the land account is shown below:-
ending balance in the land account = Beginning balance of Land account + Total balance of land - Cost of land sold
= $90,000 + ($25,000 + $28,000 + $31,000) - $50,000
= $90,000 + $174,000 - $50,000
= $124,000
Therefore for computing the ending balance in the land account we simply applied the above formula.
The most recent financial statements for Reply, Inc., are shown here: Income Statement Balance Sheet Sales $ 23,600 Assets $ 54,300 Debt $ 20,300 Costs 14,600 Equity 34,000 Taxable income $ 9,000 Total $ 54,300 Total $ 54,300 Taxes (40%) 3,600 Net income $ 5,400 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,500 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $26,904. What is the external financing needed? (Do not round intermediate calculations.)
Answer:
external financing needed $4,296
Explanation:
Sales 26,904
Cost 16,644
(14.600 / 23,600 x 26,904)
Taxable Income 10,206
Tax Income (40%) 4,104
Net Income 6,156
Dividends: (same payout ratio is maintaned)
2,500 / 5,400 x 6,156 = 2,850
Assets: (proportional to sales)
54,300 / 23,600 x 26,904 = 61902
Equity:
34,000 + 6,156 net income - 2,850 dividends = 37306
Liabilities: 61,902 - 37,306 = 24,596
Previous liaiblities 20,300
Addional debt taken: 24,596 - 20,300 = 4296
Why is the global health organization important?
The World Health Organization (WHO) plays an essential role in the global governance of health and disease; due to its core global functions of establishing, monitoring and enforcing international norms and standards, and coordinating multiple actors toward common goals.
Hope this helps!
Assume that you manage a risky portfolio with an expected rate of return of 17% and a standard deviation of 27%. The T-bill rate is 7%. Your client chooses to invest 70% of a portfolio in your fund and 30% in a T-bill money market fund. What is the expected return and standard deviation of your client's portfolio
Answer:
Expected return = 14%Standard Deviation = 18.9%Explanation:
Expected Return will be the weighted average of the return from the T-bill and your risky portfolio.
With 70% invested in the risky portfolio and 30% invested in T-bills and a return of 17% from the portfolio and 7% from the T-bills, return is;
= ( 0.7 * 17%) + ( 0.3 * 7%)
= 14%
Standard deviation is a measure of risk and is also a weighted average of the standard deviation of the two vehicles. Bear in mind that T-bills are guaranteed by the US Government and so are considered risk-free.
Standard deviation of the portfolio is;
= (0.7 * 27%) + ( 0.3 * 0)
= 18.9%
Seth, Pete, Cara, and Jen form Kingfisher Corporation with the following consideration:Consideration Transferred Basis to Transferor Fair Market Value Number of Shares IssuedFrom Seth—Inventory $30,000 $96,000 30*From Pete—Equipment ($30,000 of depreciation taken by Pete in prior years)45,000 99,000 30**From Cara—Proprietary process 15,000 90,000 30From Jen—Cash 30,000 30,000 10*Seth receives $6,000 in cash in addition to the 30 shares.**Pete receives $9,000 in cash in addition to the 30 shares.a. Seth’s recognized gain or loss. Identify the nature of any such gain or loss.b. Seth’s basis in the Kingfisher Corporation stock.c. Kingfisher Corporation’s basis in the inventory.d. Pete’s recognized gain or loss. Identify the nature of any such gain or loss.e. Pete’s basis in the Kingfisher Corporation stock.f. Kingfisher Corporation’s basis in the equipment.g. Cara’s recognized gain or loss.h. Cara’s basis in the Kingfisher Corporation stock.i. Kingfisher Corporation’s basis in the proprietary process.j. Jen’s recognized gain or loss.k. Jen’s basis in the Kingfisher stock.
Answer:
A. Ordinary gain of $6,000
B.$30,000
C. $36,000
D. $9,000
E. $45,000
F.$54,000
G. NO recognized gain or loss for Cara’s.
H. $15,000
I.$15,000
J. NO gain or loss on the transfer
K. $30,000
Explanation:
a. Based on the information given we were told that Seth’s receives the amount of $6,000 in cash in addition to the already 30 shares which means that Seth had ordinary gain of $6,000
b. Calculation for Seth’s basis in the Kingfisher Corporation stock
Using this formula
Seth’s basis= (Inventory basis+Gain Recognized)-Boot received
Let plug in the formula
Seth’s basis=($30,000 + $6,000)–$6,000
Seth’s basis=$36,000-$6,000
Seth’s basis=$30,000
c. Calculation for Kingfisher Corporation’s basis in the inventory
Using this formula
Kingfisher basis(Inventory)=Inventory basis+ Gain Recongnized
Let plug in the formula
Kingfisher basis(Inventory)=$30,000+$6,000
Kingfisher basis(Inventory)=$36,000
d.Pete’s recognized gain or loss will be the amount of $9,000 which is the amount of cash received
e. Calculation for Pete’s basis in the Kingfisher Corporation stock
Using this formula
Pete’s basis=(Equipment basis+ Gain recognized)- Boot received
Let plug in the formula
Pete’s basis=($45,000+$9,000)-$9,000
Pete’s basis=$54,000-$9,000
Pete’s basis=$45,000
f. Calculation for Kingfisher Corporation’s basis in the equipment
Using this formula
Kingfisher basis(Equipment)=Pete Equipment basis + Gain Recongnized by Pete
Let plug in the formula
Kingfisher basis(Equipment)=$45,000+$9,000
Kingfisher basis(Equipment)=$54,000
g. Based on the information given NO recognized gain or loss for Cara’s.
h. Based on the information given Cara will have a basis of the amount of $15,000 in the Kingfisher Corporation stock.
i. Based on the information given Kingfisher Corporation would as well has a basis of the amount of $15,000.
j.Jen’s has No recognized gain or loss on the transfer
k. Based on the information given Jen’s basis in the Kingfisher stock will be the amount of $30,000.
The Coca-cola company reported its 1Q-2014 results on or before April 12,204
a. True
b. False
Identify the incorrect statement concerning globalization. A. It has been blamed for unemployment in developed nations, environmental degradation and the Americanization of popular culture. B. It has created new threats for businesses accustomed to dominating their domestic markets. C. It is transforming industries and is highly welcomed by those who believed their jobs were protected from foreign competition. D. According to most economists it is a very beneficial process where gains outweigh the losses by a wide margin.
Answer:
C. It is transforming industries and is highly welcomed by those who believed their jobs were protected from foreign competition.
Explanation:
Globalization is integration of world economies. it has created threat to the employment opportunities in the developed countries since the large number of jobs are being outsourced to other countries.
Manufacturer A has a profit margin of 2.0%, an asset turnover of 1.7 and a liabilities-to-assets ratio of 0.8. Manufacturer B has a profit margin of 2.3%, an asset turnover of 1.1 and an equity multiplier of 4.7. How much asset turnover should manufacturer B have to match manufacturer A's ROE
Answer:
1.54
Explanation:
The computation of the asset turnover for manufacturer B to match with the manufacturer A is shown below:
As we know that
Return on equity = profit margin × asset turnover × gearing
2 × 1.7 × 4.9 = 2.3 × Asset tunover × 4.7
After solving this, the asset turnover is 1.54 times
So it should be 1.54 for matching
Also, we assume that there is an equity multiplier for manufacturer A of 4.9 instead of liabilities-to-assets ratio so we considered the same in the above computation part
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $65,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 9 percent of your annual salary in an account that will earn 10.5 percent per year. Your salary will increase at 2 percent per year throughout your career. How much money will you have on the date of your retirement 35 years from today?
Answer:
$2,171,762
Explanation:
since there is not enough room here I used an excel spreadsheet
Q 1.) ROUTINE REQUEST FOR INFORMATION (Marks 05 – Time required: 25 minutes) THE TASK: Re-write this letter, correctly understanding its purpose, by following the writing process and the 7 C’s, you have studied during the course. Please use the letter format. You can make necessary assumptions and delete/add information. I am writing to inquire about your recent order for a custom wedding suit. You forgot to mention what color you want, and you failed to include your measurements. I would like to clear up this confusion quickly so that we will be able to provide you with the suit before the wedding. When, exactly, is the happy day? I know you must be busy getting ready for the wedding, but if you can spare the time, you might want to stop by in person to pick out your suit, because we do offer an incredibly wide selection of fine wedding attire. At that time, you could also select an appropriate tie and shirt. I would also suggest that you choose clothing for your best man and ushers, assuming that you are having a large wedding. We are prepared to provide the best in both custom and rental formal attire for your entire wedding party, regardless of how large or small it may be. Incidentally, you should also bring your fiancée along to coordinate the men’s clothing with the bridesmaid’s dresses. You know how picky women are about clothes. If you can’t come by in person, you should send me a letter stating your measurements and indicating your color and style preferences, or call me at 633-4296. After we receive this information, we will need at least two weeks to complete the suit. Thank you for your cooperation in this matter. Assessment Rubric • Content/Ideas/Relevance: 1.5 • Organizational Strategy (Direct/Indirect): 1.5 • Format: 0.5 • Language (YOU attitude & Accuracy): 1.5
Answer:
The correct answer is given below
Please mark brainliest
Explanation:
Dear Sir,
We are grateful to have you as our customer, some details of the recent your order is missing and we would like you to provide us with that so the dress gets ready in time, we would like to know the color of your suit, and the measurements, and also please let us know when is your big day so we can make the dress and provide you with it a few days before the wedding day so if there is any problem we can help with it, please note that we also provide men wedding suits as well so you can buy from our shop with a matching color.
Clothing for best man and ushers are also important to look great, we have a large variety of it too, all your dressing problems will be solved under one roof. If you like you can bring the bride to be along yourself so we can take her measurements and she can choose the color of her choice for her big day and can also take decisions on purchasing bridesmaids dresses as we have a vast variety for them as well.
If you wish not to visit here please send us the above mentioned details in a letter or call us at 633-4296. After the information is received your dress will take about 15 days to get ready.
Awaiting your visit.
regards,
Why would an analyst include among other things, airplane parts, legal services and software, in an analysis of international economic trade? a. to determine the merchandise trade balance.b. to determine the balance of trade in services.c. to determine the current account balance.d. to determine the international flow of income.
Answer: c. to determine the current account balance
Explanation:
International trade is simply defined as the exchange of goods and services which takes place between countries. It should be noted that international trade gives countries and consumers and the exposure to the goods and services that are not available in their own countries.
An analyst would include airplane parts, legal services and software, in an analysis of international economic trade so as to determine the current account balance.
The following information relates to next year's projected operating results of the Children's Division of Grunge Clothing Corporation: If Children's Division is dropped, half of the fixed costs above can be eliminated. What will be the effect on Grunge's profit next year if Children's Division is dropped instead of being kept? Select one: a. $50,000 increase b. $250,000 increase c. $250,000 decrease d. $550,000 increase
Question:
The following information relates to next year's projected operating results of the Children's Division of Grunge Clothing Corporation:
Contribution margin.... 200,000
Fixed Expense.... 500,000
net operating loss..... (300,000)
If Children's Division is dropped, half of the fixed costs above can be eliminated. What will be the effect on Grunge's profit next year if Children's Division is dropped instead of being kept?
A) 50,000 increase
B) 250,000 increase
C)250,000 decrease
D) 550,000 increase
Answer:
Option A is correct
Increase in profit = $50,000
Explanation:
To determine whether or not it will be profitable to drop a loss making division, we compare the savings in fixed cost to the lost contribution from the division.
It is noteworthy that only the fixed cost attributed to division can only be saved should the division be shut down.
The analysis is done as follows:
$
Lost contribution (200,000 )
Savings in fixed cost (1/2× 500,000) 250,000
Net savings 50,000
Increase in profit = $50,000
Shore Company reports the following information regarding its production cost:Units produced 38,000 units
Direct labor $28.00 per unit
Direct materials $29.00 per unit
Variable overhead $760,000 in total
Fixed overhead $136,420 in total
Compute production cost per unit under absorption costing.
Answer:
Production cost per unit $80.59
Explanation:
The computation of the production cost per unit using absorption costing is shown below:
Direct labor per unit $28
Direct material per unit $29
Variable overhead per unit $20 ($760,000 ÷ 38,000 units)
Fixed overhead per unit $3.59 ($136,420 ÷ 38,000 units)
Production cost per unit $80.59
We simply added all the cost per unit so that the production cost per unit could come
Which of the following lists consists of support activities?
a. human resource management, technology development, customer service, and procurement
b. human resource management, customer service, marketing and sales, and operations
c. customer service, information systems, technology development, and procurement
d. human resource management, technology development, procurement, and firm infrastructure
Answer:
D. human resource management, technology development, procurement, and firm infrastructure
Explanation:
Support activities in business which can also be reffered as "overhead or staff function" can be explained as the all actions that are necessary for the "primary activities" of the firm to be carried out effectively.
It should be noted that these support activities are ;
✓human resource management, ✓technology development, procurement,
✓ firm infrastructure
All these support activities are essential.
human resource management is one of the support activities that look over the effective management of staffs in the organization.
technology development is another support activities that involves using scientific and technical knowledge in finding solution in the organization for greater yield
The Option that consists of support activities includes "human resource management, technology development, procurement, and firm infrastructure"
Support activities refers to an overhead or staff function whose operation actions are necessary for the "primary activities" of the firm to be carried out effectively.
Some of the function the support activities includes;
human resource managementtechnology developmentprocurementfirm infrastructureHence, the Option C is correct because its consists of support activities which includes "human resource management, technology development, procurement, and firm infrastructure"
Read more about support activities
brainly.com/question/6663692
Choose the cultures that display the Latin American enthusiasm for dance. Brazil Mexico Scotland Wales
Answer:
Mexico and Brazil
Explanation:
They are both countries known for Latin America
There are many different workplaces in the Architecture and
Construction career cluster. Select the workplaces that
sound most interesting or enjoyable to you.
A. a highway, road, or bridge
B. a large construction site
C. a home being remodeled
D. an office
E. the nonpublic areas of a large building
Answer:
It's choose your own answer so you pick it they're no wrong answers
Explanation:
The workplaces that are interesting to me in the Architecture and Construction career cluster are: C. a home being remodeled and E. the nonpublic areas of a large building.
The architecture and construction career cluster designs, plans, and constructs physical structures with aesthetic appeals and engineering considerations.
Some workers in this career cluster specialize in designing and constructing residential and commercial buildings. Others engage in landscaping, interior, green, and urban planning and designs. Some specialize in industrial designs and constructions.
Thus, I enjoy remodeling homes and private areas of public buildings because they must exhibit human touch and sensibilities.
Learn more about Architecture and Construction careers at https://brainly.com/question/17261930
5. Suppose Hillard Manufacturing sold an issue of bonds with a 12-year maturity, a $1,000 par value, a 10% coupon rate, and semiannual interest payments. Two years after the bonds were issued, the going rate of interest on bonds such as these fell to 5%. At what price would the bonds sell
Answer:
Price of bonds = $1,389.73
Explanation:
The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).
Value of Bond = PV of interest + PV of RV
The value of bond for Hillard can be worked out as follows:
Step 1
Calculate the PV of interest payments
Semi annual interest payment
= 10% × 1,000 × 1/2 =50
PV of interest payment
A ×(1- (1+r)^(-n))/r
r- semi-annual yield = 5%/2 = 2.5%
n- 10× 2 = 20.
Note that the bonds now have 10 years to maturity because it was issued 2 years ago
PV on interest = 50 × (1-(1.025^(-20)/0.0425 = 779.45
Step 2
PV of redemption Value
PV = $1,000 × (1.025)^(-20) = 610.27
Step 3
Price of bond
= 779.45+ 610.27 = $1,389.73
Price of bonds = $1,389.73
Cvs purchase of Aetna represents what type of fundamental strategy
Answer:
growth strategy
Explanation:
the options were missing:
defensive global growth divisional stabilityBy acquiring Aetna, CVS entered the health insurance industry. CVS was already one of the largest players in the health care industry since it owned one of the largest chain of pharmacies in the US and due to its size was able to negotiate discounts and other services with health care providers and drug producers.
The fact that one of the largest chain of pharmacies and retail health centers merges with one of the largest health insurers will give them competitive advantages, e.g. being capable of offering lower prices or earning higher higher profits (or both even).
Another important factor in this equation is consumer data, and that is going to be significant and the more information a company possesses and uses correctly, it can target more profitable consumer segments.
There are many other advantages including cutting costs, better customer service, etc.
Ted Catering received $1,180 cash in advance from a customer for catering services to be provided in three months. Determine the general journal entry that Ted Catering will make to record the cash receipt. Assume the company’s policy is to initially record prepaid and unearned items in balance sheet accounts.
Answer:
Debit cash for $1,180
Credit unearned catering revenue for $1,180
Explanation:
Unearned revenue refers to the amount of money that is received in cash by a company for goods that are yet to be delivered or services that yet to be rendered.
The $1,180 advance payment received by Ted Catering is unearned catering revenue. The eneral journal entry that Ted Catering will make to record the cash receipt wil appear as follows:
Account title Dr ($) Cr ($)
Cash 1,180
Unearned catering revenue 1,180
(To record unearned catering revenue.)
You can buy property today for $3 million and sell it in 5 years for $4 million. (You earn no rental income on the property.) (LO5-2) a. If the interest rate is 8%, what is the present value of the sales price? b. Is the property investment attractive to you? c. Would your answer to part (b) change if you also could earn $200,000 per-year rent on the property? The rent is paid at the end of each year.
Answer:
a) Present Value of sales = $2,722,332.78
b) Property is not attractive. NPV$ (277,667.21)
c) Property is attractive. NPV-$520,874.79
Explanation:
The present value of the property
PV = S× (1+r)^(-n)
S- Sales value
r- interest rate -8%
n- number of years
PV - present value
PV = 4,000,000× 1.08^(-5) = $2,722,332.78
b. Is the property investment attractive to you?
We calculated the PV of the investment as follows
NPV = PV of sales value - initial cost
= 2,722,332.78 - 3,000,000=$ (277,667.21)
The property investment is not attractive because it will produce a loss in capital i.e negative NPV
C
To determine we will calculate the NPV again with considering the additional rental income
PV of annual rent = 200,000 × (1-1.08^(-5))/0.08= 798,542.00
NPV = 798,542.00 + 277,667.2119 - 3,000,000 =520,874.79
The property is attractive as it produces positive NPV
Company AA and Company BB have identical Assets, Revenues and Ebit. They are in the same line of business. Company AA has a Debt/Capital ratio of 0, while Company BB's ratio is 75%. Company BB pays a low interest rate, and both company's pay the same income tax rate. During good, profitable years, which company probably has the highest Net Income and why
Answer: BB
Explanation:
Because the credit help the company BB to run over and to make monney.
Develop a sample budget for someone aged 55-65, considering the adjusted income and expenses in this life phase.
Explanation:
55 to 65-Year-Old’s Budget
Particular Per month
Housing $554
Food $245
Healthcare $500
Pensions $350
Entertainment $118
Transportation $247
Cash $155
Other $94
Unhealthy company cultures typically have such characteristics as:__________.A) tight budget controls,overly strict enforcement of longstanding policies and procedures,and low ethical standards.B) a preference for conservative strategies,an aversion to incentive compensation,and excessive emphasis on profitability.C) a politicized internal environment,hostility to change and an aversion to looking outside the company for best practices,new managerial approaches,and innovative ideas.D) overemphasis on employee empowerment,a complacent approach to building competencies and capabilities,no coherent business philosophy,and excessively bureaucratic policies and procedures.E) too little emphasis on innovation,a strong preference for hiring managers from outside the company,very few core values and traditions,and a weakly enforced code of ethics.
Answer:
C) a politicized internal environment,hostility to change and an aversion to looking outside the company for best practices,new managerial approaches,and innovative ideas.
Explanation:
Unhealthy company cultures typically have such characteristics as a politicized internal environment,hostility to change and an aversion to looking outside the company for best practices,new managerial approaches,and innovative ideas.
Which of the following is NOT true? A. The financial statement which reports information helpful in calculating the current ratio would be the balance sheet. B. A gain on the sale of land is included in net income from operations in a multi-step income statement. C. The governmental agency that has broad powers to prescribe accounting practices to public companies that trade on the major stock exchanges is the Securities Exchange Commission. D. Current assets will be typically be converted to cash or sold/consumed in one year or less. E. All of the above are true.
Answer:
B. A gain on the sale of land is included in net income from operations in a multi-step income statement.
Explanation:
A multi step income statement is a detailed for of an income statement that shows the revenues, expenses, and overall position of a business. Wether it is a profit or loss.
Operational revenues and expenses are shown separately from non operational expense.
The main aim of multi step income statement bus to calculate net income.
In this scenario gain on the sale of land is supposed to be included in non operational revenue. It is not an activity that generates income from everyday operations of the business.