Homework 5 (1) - Cost of Goods Sold 1,005,000 Gross profit...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Emir Pasovic 9/29/10 Weimer ACC 5100 Homework 5 Branson Corp. Income Statement For the Year ended December 31, 2009 Revenues Sales revenue $1,621,000 Interest revenue 500 Total Revenues 1,621,500 Expenses Cost of goods sold 1,005,000 Other expense 281,000 Salary expense 172,000 Rent expense 144,000 Income tax expense 40,000 Interest expense 18,000 Depreciation expense 17,000 Total Expenses 1,677,000 Net loss $55,500 Earnings per common share -$0.20 Branson Corp. Income Statement For the Year ended December 31, 2009 Sales Revenue Net sales Revenue $1,621,000 Cost of Goods Sold
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Cost of Goods Sold 1,005,000 Gross profit on sales 616,000 Operating Expenses Selling expenses Salary expense 172,000 Administrative expenses Rent expense 144,000 Depreciation expense 17,000 161,000 333,000 Income from operations 283,000 Other Revenues and Gains Interest revenue 500 283,500 Other Expenses and Losses Other expenses 281,000 Interest expense 18,000 299,000 Income before income tax-15,500 Income tax 40,000 Net income for the year $ -55,500 Earnings per common share -$0.20...
View Full Document

Ask a homework question - tutors are online