Question

Cinemark Holdings, Inc., operates movies and food concession counters throughout the United States. Its income statement for the quarter ended September 30, 2016, reported the following (accounts are listed alphabetically in thousands):

Admissions Revenue	$	509,600
Concessions Expenses		41,000
Concessions Revenue		318,000
Film Rental Expenses		257,800
Income Tax Expense		42,900
Office Expenses		256,700
Rent Expense		87,100
Salaries and Wages Expense		75,300
Net income		?

Required:

1. Solve for the missing amount by preparing an income statement for the quarter ended September 30, 2016. (Enter your answers in thousands.)

Answer 1

827,600 Cinemark Holdings, Inc. Income Statement For the Quarter Ended September 30, 2016 Revenues: Admissions revenue $ 509,600 Concessions revenue $ 318,000 Total revenues $ Expenses: Concessions expenses 41,000 Film rental expenses 257,800 Office expenses 256,700 Rent expense 87,100 Salaries and wages expense 75,300 Income tax expense 42,900 Total expenses $ Net income $ $ 760,800 66,800