Filzinger Corporation | ||
Income Statement | ||
For the Year ended 31st December 2021 | ||
Sales | $ 6,700,000.00 | |
Cost of Goods Sold | $ 4,200,000.00 | |
Gross Profit | $ 2,500,000.00 | |
Operating Expense | ||
Selling Expenses | $ 350,000.00 | |
Adminstrative expenses | $ 948,000.00 | $ 1,298,000.00 |
Operating Income | $ 1,202,000.00 | |
Other Income/(expenses) | ||
Interest Revenue | $ 70,000.00 | |
Gain on Sale of Investment | $ 52,000.00 | |
Interest expense | $ (30,000.00) | |
Restrutring Cost | $ (600,000.00) | $ (508,000.00) |
Income Before Taxes | $ 694,000.00 | |
Income Tax Expense | $ 173,500.00 | |
Income from Continuing Operations | $ 520,500.00 | |
Discountined Operations | ||
Loss from operations of discontined component (net of tax) | $ (45,000.00) | |
Gain on disposal of discontined component (net of tazx | $ 21,000.00 | $ (24,000.00) |
Net Income | $ 496,500.00 | |
Earning per Share from Continuing Operations | $ 5.21 | |
Earning per Share from Discontinuing Operations | $ (0.24) | |
Earning Per Share from Net Income | $ 4.97 |
-roblem 2 - Income Statement - The Filzinger Corporation's December 31, 2021 year-end trial balance contained...
Froblem 2 - Income Statement - The Filzinger Corporation's December 31, 2021 year-end trial balance contained the following income statement items: Account Title Debits Credits Sales revenue 6,700,000 Interest revenue 70,000 Gain on sale of investments 52,000 Cost of goods sold 4,200,000 Selling expense 350,000 General and administrative expense 948,000 Interest expense 30,000 Restructuring costs 600,000 They also had the following from a discontinued component: Gain on disposal of discontinued component 28,000 Loss from operations of discontinued component (60,000) Canton...
Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2021: Income from continuing operations before income taxes Gain on disposal of discontinued component Loss from operations of discontinued component $ 120,000 28,000 (60,000) 3.33 points Canton is subject to a 25% tax rate 8 00:58:22 Required: Prepare the December 31, 2021, income statement for Canton Corporation, starting with income from continuing operations before income taxes. (Amounts to be deducted should be indicated...
Rembrandt Paint Company had the following income statement items
for the year ended December 31, 2021 ($ in thousands):
Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (L04-1, 4-3, 4-4, 4-5) Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 32,000 380 580 Cost of goods sold Selling and administrative expense Restructuring costs $ 17,500 3,900 2,200 In addition, during the year...
Prepare the December 31, 2018, income statement for Canton
Corporation, starting with income from continuing operations before
income taxes. (Amounts to be deducted should be indicated
with a minus sign.)
Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2018: Income from continuing operations before income taxes Gain on disposal of discontinued component Loss from operations of discontinued component $113,000 30,700 (53,000) Canton is subject to a 30% tax rate. Required: Prepare...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue $ 31,000 Cost of goods sold $ 17,000 Interest revenue 360 Selling and administrative expense 3,800 Interest expense 560 Restructuring costs 2,100 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.9 million and a gain on disposal of the component’s assets of $4.6 million. 600,000 shares...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $26,000 cost of goods sold 260 Selling and administrative expense 460 Restructuring costs $14,500 3,300 1,600 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.4 million and a gain on disposal of the component's assets of $3.6 million. 600,000 shares of common...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $30,000 cost of goods sold 340 Selling and administrative expense 540 Restructuring costs $ 16,500 3,700 2,000 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.8 million and a gain on disposal of the component's assets of $4.4 million. 600,000 shares of...
Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (LO4-1, 4-3, 4-4, 4-5) Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue $ 28,000 Interest 300 revenue Interest 500 expense Cost of goods sold Selling and administrative expense Restructuring costs $ 15,500 3,500 1,800 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.6 million and...
Rembrandt Paint Company had the following income statement items
for the year ended December 31, 2021 ($ in thousands):
Can someone check what I'm doing wrong.
Thanks
This is what you can see when you open the yellow
box
$ Income Statement For the year ended December 31, 2021 ($ in thousands, except per share amounts) Sales Revenue Cost of goods sold Gross profit Operating expense Advertising expense $ Depreciation expense Salaries expense Restructuring cost 18,000 10,500 7,500 3,300 700...
Only need the values of income from operations of discontinued
component, Income tax expense, income from continuing operations
and income on discontinued operations. Thanks
Rembrandt Paint Company had the following Income statement Items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 27,00€ 282 480 Cost of goods sold Selling and administrative expense Restructuring costs $ 15,000 3,400 1,7ee In addition, during the year the company completed the disposal of its plastics...