Ch16_P02B - Extraordinary gains(losses-37125 14,100 Net...

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Fundamental Accounting Principles Student Name: Eleventh Canadian Edition, by Larson, Jensen, and Carroll Class: SPATS Problem 16-2B Press F5, enter a cell reference, and click on <OK> to go to one of the following data entry areas: REPORT REFERENCEPRINT AREA Parts 1 through 2 M1 M5:S60 Given Data T1
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REPORT REFERENCE Parts 1 through 2 M5 Given Data T1 0 0 SPATS Problem 16-2B Titus Inc. Part 1. A Part 1. B Part 1. C Part 2
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Given Data: Titus Inc. 2006 2005 2004 Sales $400,000 $300,000 $250,000 Costs and expenses 270,000 215,000 160,000 Income from continuing operations 130,000 85,000 90,000 Loss on discontinued operations (26,145) Income (loss) before extraordinary items $130,000 $85,000 $63,855
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Unformatted text preview: Extraordinary gains (losses)-37125 14,100 Net income(loss) $92,875 $99,100 $63,855 Information on Common Shares Shares outstanding on December 31, 2003 10,000 Treasury purchase on July 1 (1,000) Sale of shares on Seprember 30 3,500 Share dividend of 20% on December 1 2,500 Shares outstanding December 31, 2004 15,000 Sale of shares on March 31 4,000 Treasury purchase on October 1 (1,500) Shares outstanding December 31, 2005 17,500 Sale of shares on July 1 3,000 Treasury purchase on October 1 (1,750) 2:1 split on November1 18,750 Shares outstanding December 31, 2006 37,500 No preferred shares have been issued...
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