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Retained earnings 2000 notes payable past earnings

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Unformatted text preview: earnings not distributed to T stockholders.otal liabilities $ 4,895 5,714 8,517 7,154 981 $ 27,261 $ 7,156 9,000 $ 16,156 Stockholders' Equity Contributed capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Chapter One $ 2,000 9,105 11,105 $ 27,261 Slide 16 MAXIDRIVE CORP. Income Statement For the Year Ended December 31, 2009 (in thousands of dollars) Revenue s Sales revenue $ 37,436 1. Name of entity Expenses statement 2. Title of Cost of goods sold $ 26,980 3. Specific date (Unlike the balance sheet, this Selling, general and a specified period of time.) 3,624 statement covers administrative Research and development 1,982 4. Unit of measure Interest expense 450 Total expenses 33,036 Pretax income Income tax expense Net income $ 4,400 1,100 $ 3,300 Chapter One Slide 17 MAXIDRIVE CORP. The Income Statement reports the Income Statement revenues less expenses31, 2009 of the For the Year Ended December accountingof dollars) (in thousands period. Revenue s Sales revenue $ 37,436 Expenses Cost of goods sold $ 26,980 Selling, general and administrative 3,624 Research and development 1,982 Interest e xpense − 450 R E = NI Total expenses 33,036 Pretax income Income tax expense Net income Chapter One $ 4,400 1,100 $ 3,300 Slide 18 MAXIDRIVE CORP. Income Statement For the Year Ended December 31, 2009 (in thousands of dollars) Revenue s Sales revenue $ 37,436 Expenses Revenues are earnings from the26,980 of goods sale Cost of goods sold $ or services to customers. Selling, general and administrative 3,624 Research and is recognized in the period in which 1,982 Revenue development Interest expenseservices are sold, not necessarily 450 goods and Total expenses in which cash is received. 33,036 the period Pretax income Income tax expense Net income $ 4,400 1,100 $ 3,300 Chapter One Slide 19 MAXIDRIVE CORP. Expenses are the dollar Statement resources used Income amount of up byFor the Year Ended December 31, 2009 the entity to earn revenues during a period. (in thousands of dollars) An expense is recognized in the perio...
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