Professional Documents
Culture Documents
Sales 1,000,000
COS
BI 650,000
Plus Purchase 460,000
Less EI 440,000
COS 670,000
Gross Profit 330,000
Operating expenses
Selling Expense 43000
Administrative Expense 62000 105000
Operating Income 225,000
Plus/less Other income income /expense
Dividend Income 10,000
Interest Expense -20,000 -10,000
Income Before tax and exraordinaty loss 215,000
Less income tax 100,000
Income before exraordinaty loss 115,000
Plus: Flood loss -30,000
Net income 85,000
EPS 1.15
EPS 0.85
Multiple step income statement
Sales 362,000
Cost of products sold 242,000
Gross Profit 120,000
Operating expenses
Selling Expense 47,000
Administrative Expense 11400 58400
Operating Income 61,600
Plus/less Other income income /expense
Rental Income 1,000
Interest income 2,400 3,400
Interest expense -2,200
Income Before tax 62,800
Less Federal and statement income tax 20,300
Net Income 42,500
Multiple step income statement
Sales 480,000
Cost of products sold 410,000
Gross Profit 70,000
Operating expenses
Selling Expense & Administrative expense 42000
Operating Income 28,000
Plus/less Other income income /expense
Oher Income 1,600
Interest Expense -8,700 -7,100
Income Before tax and exraordinaty item 20,900
Less income tax 9,300
Income before exraordinaty gain 11,600
Extraordinary gain 1,000
Net Income 12,600
Plus BRE 270000
282,600
Less Dividends 3,000
ERE 279,600
a Single step income statement
Sales Revenue 670,000
Rental Income 3,600
Gain on Sale of Fixed Asset 3,000
Total Revenue 676,600
Less expenses
COS 300,000
General and Administrative Expense 110,000
Selling Expense 97,000
Interest expense 1,900
Depreciation expense 10,000 518,900
Income before tax and exraordinary items 157,700
Tax expense 63080
Income before Extraordinary items 94,620
Extraordinatry loss :floods 30000
Tax Saving 12000 18000
Net Income 76,620
EPS 3.154
EPS 2.554