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lecture6 - Income from Discontinued Operations(net of...

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ACCT 3220/Sep 3, 2010 1 Income Statement General Format Sales Revenue - Cost of Goods Sold = Gross (Profit) Margin + Other Revenues or Gains - Operating Expenses - Other Expenses and Losses = Net Income Before Taxes - Tax Expense = Net Income (unless there are further adjustments for specific special items: D or C) = Operating Income Income Statement General Format
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ACCT 3220/Sep 3, 2010 2 Income Statement General Format Net Income / Common Shares Outstanding = Earnings Per Share Primary EPS ignores potential dilution Diluted EPS corrects for potential dilution Income Statement General Format
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ACCT 3220/Sep 3, 2010 3 Income Statement General Format Sales Revenue - Cost of Goods Sold = Gross (Profit) Margin + Other Revenues or Gains - Operating Expenses - Other Expenses and Losses = Net Income Before Taxes - Tax Expense = Net Income Before Special Items: D or C
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Unformatted text preview: + Income from Discontinued Operations (net of tax) -Loss from Disposal of Discontinued Operations (net of tax) + Effect of Change in Accounting Principal if allowed by the standards (net of tax) = Net Income ACCT 3220/Sep 3, 2010 4 ACCT 3220/Sep 3, 2010 5 Comprehensive Income Statement General Format Sales Revenue -Cost of Goods Sold = Gross (Profit) Margin + Other Revenues or Gains -Operating Expenses -Other Expenses and Losses = Net Income Before Taxes -Tax Expense = Net Income Before Special Items: D or C = Operating Income + Income from Discontinued Operations (net of tax) -Loss from Disposal of Discontinued Operations (net of tax) + Effect of Change in Accounting Principal if allowed by the standards (net of tax) = Net Income + Other Comprehensive Income = Comprehensive Income ACCT 3220/Sep 3, 2010 6 ACCT 3220/Sep 3, 2010 7...
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