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HW 3 - (including operating loss of $1,600 400 Income tax...

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AMIS Inc. Income Statement (in thousands) For Period Ended December 31, 2010 Sales Revenue $18,000 Cost of Goods Sold 10,500 Gross Profit 7,500 Operating Expenses: Selling + Admin 2,500 Restructuring Costs 800 Total Operating Expenses 3,300 Operating Income 4,200 Other Income (expense): Interest Income 200 Interest Expense (350) Loss on Sale of Production Machinery (1,000) Income from continuing operations before Income taxes and extraordinary item 3,050 Income tax expense (915) Income from continuing operations before Extraordinary item 2,135 Discontinued Operations: Gain from disposal of plastics business
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Unformatted text preview: (including operating loss of $1,600) 400 Income tax loss (120) Gain on discontinued operations 280 Income before extraordinary item 2,415 Extraordinary gain, net of $900 in tax expense 2,100 Net income $4,515 Earnings per common share: Income from continuing operations Before extraordinary item 4.27 Discontinued operations .56 Extraordinary gain 4.20 Net Income 9.03 Year Point of Delivery Installment Sales Method Cost Recovery Method 2011 600,000 200,000 2012 200,000 2013 200,000 600,000 Total Gross Profit 600,000 600,000 600,000...
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