Problem 4-48

Problem 4-48 - (3,000) Other Revenes and Gains Interest Rev...

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Be Fit Recreation Incorporated Multiple-Step Income Statement For the Year Ended December 31, 2011 Revenue: Sales $647,300 Less: Sales R+A 8,700 638,600 Cost of Goods Sold 305,200 Gross Profit 333,400 Operating Expenses Selling Expenses Sales Salaries and Commistions 116,400 Depr - Store 25,600 Advertising Exp 18,700 160,700 General and Admin Exp Office Salaries 121,000 Depr - Office 38,400 Other General and Admin Exp 16,300 175,700 Total Operating Expenses 336,400 Operating Income
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Unformatted text preview: (3,000) Other Revenes and Gains Interest Rev 5,300 Gain on disposial of segment 32,000 37,300 Other Exp. And Losses Interest Exp. (9,400) Loss on Sale of short-term investment (2,800) (12,200) Income from Continuing Operations Before Taxes 22,100 Income Taxes 6,630 Income from Continuing Operations 15,470 Extradinary Gain (net of tax of 3,990) 9,310 Net Income $24,780 Earnings per Share Income from Continuing Operations $1.55 Extradinary Gain 0.93 Net Income $2.48...
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