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Unformatted text preview: Net Sales-COGS Gross Profit ( rro. .r~\V"\ ")- Operating Expenses: ., sa, f:\. Selling Expenses General & Admin. Expenses Income from Operations 1+-/_ Other Reve11ues and Ex eoses Income before Taxes .IJ'T ..1 Income lax expense ("t'"\ . .. i5"rr Net Income t \-t. '>y 'P1J. . """ EPS ~ t:o cec Cn.lr®-e, Important Subtotals ;,. .Sales - Cost of goods sold = Gross Profit * This is the amount that a company is selling its inventory for over what it costs it to make or buy the inventory. » Income from continuing operations: This is the income from ongoing business and excludes discontinued operations, extraordinary items, and accounting changes. Company only shows this ifthey have onc of those special items, otherw-ise this is net Income. 6 CbAp.l C1olp_1 Fa m I·~~ = :1flwme. ....
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This note was uploaded on 09/01/2011 for the course ACCT 284 taught by Professor Clem during the Fall '08 term at Iowa State.
- Fall '08