IncStateMS - 3,600 1,050 $39,950 25,650 65,600 $ 73,600...

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Fitness Sporting Goods, Inc. Income Statement (Multi-Step Format) For the year ended December 31, 2004 Sales Cost of Goods Sold  Gross Margin $357,500 218,300 $139,200 Operating Expenses Selling Expenses Advertising Salaries and Wages Total Selling Expenses General and Administrative Expenses Depreciation on buildings and      amortization of trademarks Salaries and Wages Insurance Supplies Total General and Administrative Expenses Total Operating Expenses Income from Operations $  4,200 13,750 22,000 $  6,000 15,000
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Unformatted text preview: 3,600 1,050 $39,950 25,650 65,600 $ 73,600 Other revenue and expenses Interest Revenue Interest Expense Excess of other expenses over other revenue Income before taxes $ 1,500 16,900 15,400 $58,200 Income Tax Expense Net Income 17,200 $ 41,000 Earnings per Share $8.20 Sales and Cost of sales are compared. Expenses of the business are detailed. Isolating expenses (and revenue) by type is useful in analyzing a Operating income is highlighted “Nonoperating” revenues and expenses are...
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This note was uploaded on 04/12/2011 for the course ACCT 1310 taught by Professor Vickivorrell during the Spring '07 term at Cuyahoga CC.

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