CROSBY CORPORATION - CROSBY CORPORATION Income Statement...

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Unformatted text preview: CROSBY CORPORATION Income Statement For the Year Ended December 31, 2008 Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,300,000 Gross profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000 Selling and administrative expense . . . . . . . . . . . . . . . . . . . . 420,000 Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000 Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330,000 Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,000 Earnings before taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240,000 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000 www.mhhe.com/bhd13e Statement of Retained Earnings For the Year Ended December 31, 2008 Retained earnings, balance, January 1, 2008 . . . . . . . . . . . . . . . . . . . . $500,000 Add: Earnings available to common stockholders, 2008 . . . . . . . . . . 150,000 Deduct: Cash dividends declared and paid in 2008 . . . . . . . . . . . . . 50,000Deduct: Cash dividends declared and paid in 2008 ....
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This note was uploaded on 12/07/2011 for the course ACC 400 STBSBA73 taught by Professor Gilbertrodriguez during the Summer '09 term at University of Phoenix.

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CROSBY CORPORATION - CROSBY CORPORATION Income Statement...

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