chapter 4, part 2 - BE4-9 Portman Corporation Retained...

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Chapter 4 part 2 (BE4-5, BE4-6, BE4-8, BE4-9, BE4-10, E4-3, E4-16) BE4-5 Stacy Corporation Income Statement 2010 Income before income taxes and extraordinary $6,300,000 Income taxes 1,890,000 Income after before extraordinary item 4,410,000 Extraordinary item- infrequent pretax loss 770,000 Less: Applicable Income Tax reduction 231,000 539,000 Net income $3,871,000 Earnings per share $0.77 BE4-6 Williamson Company Income statements 2008 Income before income tax $170,000 Income taxes 51,000 Net Income $119,000 2009 Income before income tax $145,000 Income taxes 43,500 Net Income $101,500 2010 Income before income tax $180,000 Income taxes 54,000 Net Income $126,000 BE4-8 hollis 2010 earnings per share $3.95
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Unformatted text preview: BE4-9 Portman Corporation Retained Earnings Retained earnings, January 1 $675,000.00 Net income 1,400,000.00 Cash dividends 75,000.00 Retained earnings, December 31 $2,000,000.00 BE4-10 Portman Corporation Retained Earnings Retained earnings, January 1 $675,000.00 error $80,000.00 Net income 1,400,000.00 Cash dividends 75,000.00 Retained earnings, December 31 $1,920,000.00 E4-3 Single step income statement Revenues Sales 92000 Interest Revenue 18400 Total revenue 73600 Expenses Cost of goods sold 500000 interest expense 20000 administrative expense 95888 Income tax expense 150000 Total expenses 765888 Net income-692288 earnings per share-23.08...
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chapter 4, part 2 - BE4-9 Portman Corporation Retained...

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