12-3A_9e - Problem 12-3A Name: Section: Enter the...

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Problem 12-3A Name: Section: Enter the appropriate amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. 1. AMANA BREAD CORPORATION Income Statement For the Year Ended October 31, 2008 Sales Cost of merchandise sold Gross profit Operating expenses: Selling expenses $224,000 Administrative expenses 80,000 Loss from fixed asset impairment 35,000 Restructuring charge 65,000 Total expenses Income from operations Other revenues and expenses: Interest expense ($5,000) Interest revenue 4,000 Income from continuing operations before income tax Income tax expense Income from continuing operations Loss from discontinued operations $60,000 Less applicable income tax benefit 24,000 Income before extraordinary item Extraordinary item: Gain on condemnation of land $80,000 Less applicable income tax 32,000 Net income Earnings per common share: Income from continuing operations Loss on discontinued operations Income before extraordinary item
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12-3A_9e - Problem 12-3A Name: Section: Enter the...

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