AcctCh6(1) - BA450P61 FRAHMCORPORATION IncomeStatement

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BA 450 P6-1 FRAHM CORPORATION Income Statement For the Year Ended December 31, 2010 Revenues Sales (net) $600,000  Interest revenues 3,000  Total revenues $603,000  Expenses Cost of goods sold $323,700  Administrative and office salaries 43,000  Misellaneous office expenses 2,300  Bad debts expense 6,000  Advertising expense 40,000  Sales salaries and commissions 59,000  Depreciation expense 31,000  Delivery expense 25,000  Property taxes 7,000  Interest expense 8,800  Income tax expense 17,160  Total expenses (562,960) Income before extraordinary item $40,040  Extraordinary loss due to tornado (net of $3,600 income tax credit) (8,400) Net Income $31,640  Earning per share (10,00 share common stock) Income before extraordinary item $4.00  Extraordinary item (0.84) Net Income $3.16 
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P6-1 FRAHM CORPORATION Working Paper for Segment Reporting For Year Ended December 31, 2010 All Operating Segments Segment B C Other Totals Unallocated Totals Total revenues (sales) $360,000  $150,000  $90,000  $600,000  $0  $600,000  Operating expenses Cost of goods sold $198,000  $78,000  $47,700  $323,700  $0  $323,700  Sales salaries 27,000  12,000  8,000  47,000  47,000  Sales commissions 7,200  3,000  1,800  12,000  12,000  Bad debts expenses 3,600  1,500  900  6,000  6,000  Delivery expense 16,000  5,000  4,000  25,000  25,000  Advertising expense 18,200  9,800  7,000  35,000  5,000  40,000  Administrative and office salaries 17,000  12,000  10,000  39,000  4,000  43,000  Property taxes 4,000  2,000  1,000  7,000  7,000 
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This note was uploaded on 04/20/2010 for the course BA 450 taught by Professor Fults,g during the Fall '08 term at Humboldt State University.

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AcctCh6(1) - BA450P61 FRAHMCORPORATION IncomeStatement

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