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Income Statement - Techtronics Corporation Income Statement...

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Unformatted text preview: Techtronics Corporation Income Statement For the ‘I'ear Ended December 31, 2011 Revenue: Sales .................................................... $000.03) Less: Sales retums and allowance: ............................ 3 H.000 Sales discount: ............................................ 0.000 10.033 Cost of goods sold: Beginning Il‘W'EII'LDr‘f ....................................... $15,011 Net purchases ............................................ 3630.000 Freight-in ................................................ 32.000 661.020 Cost of goods available for sale .............................. $T0?.0II Less ending INF-El‘lmrj" ...................................... 196.033 Gross profit ............................................... Operating expenses: Selling expenses: Sales salaries ............................................ 3 45.000 Advertising expense ...................................... 1T.000 HIsceIhneous selling expenses ............................. H.000 3 05.0.13 IGeneral and administlative expenses: Dfilcers‘ and office salaries ............................... 3 44.000 Taxes and lnsumnce ..................................... 16.500 Deprechtion and amorflzation expense ...................... 30.000 Bad debt expense ....................................... 0.600 Miscelhneous general expense ............................. 9.100 | |B.3L'I.'I Operating Income ........................................... Operating Income ........................................... Other revenues and gains: Interest revenue .......................................... 3 H.350 IGain on sale of Investment .................................. 31.02!) Other expenses and losses: Interest expense .......................................... 3 [I 0.150) Loss on sale of equipment .................................. [5.150) Income from conflnuing operations before Income taxes ............ Income taxes on oonrJnuing opemtions .......................... Income from conunuing operations ............................ Discontinued opelacions: Loss from operations of disoonunued business component (including loss on disposal of 3|é.000] ...................... $[5|.£IZIZI} Inoome tax benefit ......................................... l5.3£l2l Eilttlaordinarpr gain {net of Income taxes of 35,330] ................ Net inoome ................................................ Changel In tlanshflon adlusiment .............................. 3 [1.450) Increase In unrealized gains on available-for-sale securities ........... LIED Comprehensive Income ....................................... Earnings per common share: Inoome from oonflnuing opemflons ........................... Discon'dnued opemtions ................................... Extn'iordlranlr gain ........................................ Net income .............................................. 3380.000 103.300 3 55.300 3 85.300 49.350 3| I I .950 33.505 3 10.365 (35:00} H.510 s ssnvs (I .210) 3 53.915 ...
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