157_634721677028245224_Freds_Fine_Lingerie_and_Harley_Shoppe

Earnings total owners equity total liabilities and

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Unformatted text preview: l Liabilities and Owners' Equity Fred's Fine Lingerie and Harley Shoppe Income Statement For the Year Ended December 31, 20x5 Sales Cost of Goods Sold Gross Margin $200,000 80,000 120,000 Operating Expenses Salary Expense Rent Expense Depreciation Expense Total Operating Expenses Operating Income Other Revenues & <Expenses> Interest Expense Income Before Taxes Tax Expense Net Income $20,000 24,000 10,000 54,000 66,000 < Earnings Per Share $39,200/((10,000*6/12)+(20,000*3/12)+(25,000*3/12)) 10,000 > 56,000 16,800 $39,200 $2.41 Fred's Fine Lingerie and Harley Shoppe Statement of Owners' Equity For the Year Ended December 31, 20x5 Common Stock Beginning Balance, 12/31/x4 Issuance of Stock Net Earnings for the Year Dividends Declared Balance, 12/31/x5 $10,000 15,000 $25,000 Retained Earnings $66,000 39,200 (30,600) $74,600 Totals $76,000 $15,000 39,200 (30,600) $99,600 $25,000 74,600 99,600 $238,000 Fred's Fine Lingerie and Harley Shoppe Statement of Cash Flows For the Year Ended December 31, 20x5 Operating Activities Net Income Adjustments to Net Income: Add: Depreciation Expense Changes in: Increase in Accounts Receivable Decrease in Inventory Increase in Accounts Payable Decrease in Salaries Payable Increase in Taxes Payable Cash Provided by Opera...
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