ACC_ADJUSTED FINANCIAL STATEMENTS - Copy

ACC_ADJUSTED FINANCIAL STATEMENTS - Copy - AMERICAN...

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AMERICAN CHEMICAL CORPORATION Exhibit IV 2010 Condensed Financial Statements Adjustments Current Pollution Condemnation Draft Violations Award Final Balance Sheet Assets Current 800 (50) 750.0 Noncurrent 1,200 50 1,250.0 2,000 - - 2,000.0 Liabilities Current 500 500.0 Noncurrent 900 65.4 965.4 1,400 65.4 1,465.4 Stockholders' Equity 600 (65.4) 534.6 2,000 - - 2,000.0 Income Statement Sales 3,000 3,000.0 Cost of Sales 1,000 1,000.0 Gross Margin 2,000 2,000.0 Operating expenses 1,100 65 1,165.0 Other expense-net 25 25.0 Income before income tax 875 (65) - 810.0 Provision for income tax 350 0.4 350.4 Net Income 525 (65.4) - 459.6 Net Income/common share Basic $0.20 $(0.02) $- $0.18 Diluted $0.18 $(0.02) $- $0.16 Statement of Cash Flows Net cash flows from: Operating 400 (65.4) 334.6 Investing (700) (700) Financing 310 310 10 (65.4) (55.4) 15 15 25 (65.4) (40.4)
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Novation Chemical Corporation Adjusting Journal Entries
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ACC_ADJUSTED FINANCIAL STATEMENTS - Copy - AMERICAN...

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