{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Clarkson Lumber CRA-GA1 v1.3+

Clarkson Lumber CRA-GA1 v1.3+ - Exhibit 1 Operating...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1993 1994 1995 1996 Pecent Note Net sales $2,921 $3,477 $4,519 $1,062 $1,513 $1,513 $1,413 $5,500 Case page2 Cost of Goods Sold: Beginning inventory 330 337 432 587 607 643 678 2515 Purchases 2,209 2,729 3,579 819 1180 1180 1102 4281 78% 78% of sales 93-95 $2,539 $3,066 $4,011 $1,406 $1,787 $1,823 $1,781 6796 Ending inventory 337 432 587 607 643 678 711 Total Cost of Goods Sold $2,202 $2,634 $3,424 $799 $1,144 $1,144 $1,069 $4,157 76% 76% of sales 93-95 Gross profit 719 843 1,095 263 368 368 344 $1,343 622 717 940 244 316 316 295 1170 21% 21% of sales 93-95 Saving on purchase discount 24 24 22 69 Footnote d Earnings before interest and taxes $97 $126 $155 $19 $76 $76 $71 $242 Interest expense 23 42 56 13 26 25 23 88 Net income before income taxes $74 $84 $99 $6 $50 $51 $48 $154 14 16 22 1 9 14 19 42 Footnote c Net income $60 $68 $77 $5 $41 $37 $29 $112 d: Savings from purchase discounts 1996 Q2 1996 Q3 1996 Q4 Purchases 1,180 1,180 1,102 Discounts taken at 2% $24 $24 $22 Exhibit 1 Operating Expenses for Years Ending December 31, 1993-1995, and for First Quarter 1996 (thousands of dollars) 1st Quarter 1996 2nd Quarter 1996 3rd Quarter 1996 4th Quarter 1996 Operating expenses b Provision for income taxes c a In the first quarter of 1995, sales were $903,000 and net income was $7,000 b Operating expenses include a cash salary for Mr. Clarkson of $75,000 in 1993; $80,000 in 1994; $85,000 in 1995; and $22,500 in the first quarter of 1996.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern