Attempt 1 Iris V. Padilla - 720,000 Income before Taxes and...

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Iris V. Padilla Ortiz Y00-03-0134 BADM-6310 Prof. Dr. E. Martínez Lelolay Company Income Statement For the Year Ended December 31, 2007 Net Sales $800,000 Costs and Expenses: Cost of Goods Solds 640,000 Selling, general and administrative exp. 63,000 Interest expenses (Other Net) 10,000 Infrecuent Charge 7,000 Total Cost and Expenses
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Unformatted text preview: 720,000 Income before Taxes and Extraordinary Item 80,000 Income Taxes 24,000 Income before Extraordinary Item 56,000 Extraordinary Loss 10,000 Earthquake Damage (Less Taxes) 3,000 7,000 Net Income $49,000 Lelolai had $20,000 shares of commons stock outstanding during 2007 $2.45...
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