Chapter 4 The Income Statement and Statement of Cash Flows18

Chapter 4 The Income Statement and Statement of Cash Flows18

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

View Full Document Right Arrow Icon
EXERCISES Exercise 4-1 Requirement 1 GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2011 Revenues and gains: Sales . ................................................................. $1,300,000 Interest . ............................................................. 30,000 Gain on sale of investments . ............................. 50,000 Total revenues and gains . .............................. 1,380,000 Expenses and losses: Cost of goods sold . ........................................... $720,000 Salaries. ..............................................................
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 160,000 Depreciation. ...................................................... 50,000 Interest. .............................................................. 40,000 Rent. ................................................................... 25,000 Income tax . ....................................................... 130,000 Total expenses and losses . ............................. 1,125,000 Net income . ......................................................... $ 255,000 Earnings per share . .............................................. $2.55...
View Full Document

This note was uploaded on 01/08/2011 for the course -2 20101 taught by Professor Georgesanchez during the Spring '10 term at USC.

Ask a homework question - tutors are online