Howell Corporation

Income Statement
For the period ended December 31, 2019

Sales 895,000
Cost of goods sold 408,500
Gross Profit 486,500
Selling Expenses 145,000
Administrative Expenses 215,000 360,000
Other Income:
Interest Revenue 19,500
Income from Operations 146,000
Interest Expense (Financing Costs) 13,000
Income before income taxes 133,000
Income Taxes 39,900
Income from continuing operations 93,100
Discontinued operations:
Loss on discontinued operations net of tax 28,000
Net Income 65,100
Per share:
Income from continuing operations $ 1.86
Discontinued operation loss -$ 0.56
Net Income $ 1.30