Chapter 6 class exercise (1)

Chapter 6 class exercise (1) - 38 - - Loss from operating...

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Amber Corporation Income Statement "Economic" Recurring Recurring 200X Recurring Nonrecurring Operating Nonoperating Operating Operating Revenues 14,314 14,314 14,314 14,314 14,314 Cost of goods sold 8,270 8,270 8,270 8,270 8,270 Gross Profit 6,044 6,044 6,044 6,044 6,044 Expenses: Selling and administrative 2,964 2,964 2,964 2,964 2,964 Research and development 1,234 1,234 1,234 1,234 617 Restructuring charge 1,016 1,016 1,016 Interest expense 725 725 - 725 - - Income before taxes 105 1,121 (1,016) 830 (725) 1,846 2,463 Income taxes 37 392 (356) 291 (254) 646 862 Income from continuing operations 68 729 (660) 540 (471) 1,200 1,601 Gain from extingusihment of debt* 38 38 -
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Unformatted text preview: 38 - - Loss from operating discontinued segment* (23) (23)- (23)- - Gain from sale of discontinued segment* 66 66 - 66 - - Net income 149 729 (579) 540 (390) 1,200 1,601 ___________ * Shown on an after tax basis. Portion of Statement of Stockholders' Equity Accumulate Other Comprehensive Income Beginning of period 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Net income 149 729 (579) 540 (390) 1,200 1,601 Foreign currency transaction adjustments 82 82 82 Unrealized holding gain on Avail for sale sec. 24 24 24 Post retirement benefits adjustment (4) (4) (4) Comprehensive income 251 729 (477) 540 (288) 1,200 1,601 End of period 1,251 1,729 523 1,540 712 2,200 2,601...
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This note was uploaded on 07/02/2011 for the course FINA 470 taught by Professor Austin during the Spring '11 term at South Carolina.

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