Chapter 04.3 - Homework (1) - PROBLEM41 DICKINSONCOMPANY IncomeStatement ,2014 Salesrevenue Costofgoodssold Grossprofit Interestrevenue 70,000 $ 110,0

Chapter 04.3 - Homework (1) - PROBLEM41 DICKINSONCOMPANY...

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PROBLEM 4-1 DICKINSON COMPANY Income Statement For the Year Ended December 31, 2014 Sales revenue .................................................................... $25,000,000 Cost of goods sold ...........................................................       16,000,000 Gross profit ....................................................................... 9,000,000 Selling and administrative expenses ..............................          4,700,000 Income from operations ................................................... 4,300,000 Other revenues and gains Interest revenue ...................................................... $  70,000 Gain on the sale of investments ...........................    110,000 180,000 Other expenses and losses Write-off of goodwill ...............................................             820,000 Income from continuing operations before     income tax ....................................................................... 3,660,000 Income tax .........................................................................          1,244,000 Income from continuing operations ................................ 2,416,000 Discontinued operations Loss on operations, net of applicable tax ............ 90,000 Loss on disposal, net of applicable tax ...............    440,000            (530,000) Income before extraordinary item ................................... 1,886,000 Extraordinary item—loss from flood      damage, net of applicable tax ......................................        390,000 Net income ......................................................................... $  1,496,000 Earnings per share: Income from continuing operations ...................... $ 4.67 a Discontinued operations Loss on operations, net of tax ...................... $(0.18) Loss on disposal, net of tax ..........................    (0.88 )    (1.06 ) Income before extraordinary item .......................... 3.61 b Extraordinary loss, net of tax .................................       (0.78 )
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  • Spring '14
  • Revenue, ........., TWAIN¬†CORPORATION

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