Woods Corporation

Income Statement
For the period ended December 31, 2019
1 2
Sales revenue
Sales returns and allowances 79,000
Sales discounts 34,000
Net sales

Inventory (beginning)
Purchases 2,786,000
Purchase returns 15,000
Purchase discounts 27,000 (42,000)
Net purchases 2,744,000
Freight-in 72,000
Cost of goods purchased
Cost of goods available for sale (COGAS)
Inventory (ending)
Cost of goods sold

Gross profit

Selling expenses:
Sales and wages expense (sales) 284,000
Delivery expense 93,000
Sales commissions 83,000
Travel expense 69,000
Advertising expense 54,000
Depr. Expense (sales equipment) 36,000
Telephone and internet expense (sales) 17,000

Administrative expenses:
Sales and wages expense (office) 346,000
Depreciation expense (office equipment) 48,000
Accounting and legal services 33,000
Utilities expense (office) 32,000
Insurance expense (office) 24,000
Miscellaneous office expenses 8,000

Other income and expense:

Rent revenue 240,000

Income from operations

Interest expense

Income before income tax

Income tax (30% x 334.000)

Income from continuing operations

Discontinued operations:
Loss on sale of division
Applicable income tax (30% x 60.000)

Net income

EPS:
Income from continuing operations (233.800/90.000)
Discontinued operations (-42.000/90.000)
Net income (191.800/90.000)
1, 2019
3 4
4,175,000

(113,000)
4,062,000

535,000

2,816,000
3,351,000
(686,000)
(2,665,000)

1,397,000
Sales or Revenue
Cost of Goods Sold = Beg Inv + Cost good of purchased - Ending Inventory
Gross Profit
Selling Expenses
Administrative or General Expenses
Other Income and Expense
Income from Operations
Financing costs
Income before Income Tax
636,000 Income Tax
Income from Continuing Operations
Discontinued Operations
Net Income
Non-Controlling Interest
Earnings Per Share

491,000 (1,127,000)

240,000

510,000

(176,000)

334,000
 (100,200)

233,800

(60,000)
18,000 (42,000)

191,800

2.60
(0.47)
2.13
hased - Ending Inventory
 McEntire Corporation
Retained Earnings Statement
For the periode ended December 31, 2019

Retained earnings Jan 1, 2019 as reported 225,000

Correction of depreciation expense (20,000)

(applicable income tax = 25.000 x 20% = 5.000)

Cumulative decrease in income from change in (36,000)

inventory methods (applicable income tax = 45.000 x 20% = 9,000)

Retained earnings Jan 1, 2019 as adjusted 169,000

Net income 176,000

(applicable income tax = 220.000 x 20% = 44.000)

Dividends (100,000)

Retained earnings Dec 31, 2019 245,000

 2017 (X) 2017 (V)
Revenue 200000 200000
40.000-0+125.000-50.000+160.000-50.000 Expense -120000 -120000
Depr. Exp -25,000 -50000
NI 55000 30000
Beban terlalu rendah, laba terlalu tinggi
 Weatherspoon Shoe
Statement of Comprehensive Income
For the periode ended December 31, 2019

Net Sales 980,000

Cost of Goods Sold (COGS) (516,000)

Gross Profit 464,000

Selling expenses 140,000

Administrative expenses 181,000 (321,000)

Other income and expense:

Rent revenue 29,000
Loss on sale of plant assets (15,000) 14,000

Income for operations 157,000

Interest expense (18,000)

Income before income tax 139,000

Income tax (30,600)

Net income 108,400

Other comprehensive income:

Unrealized holding gain on non-trading equity securities 31,000

Comprehensive income 139,400

EPS ((108.400 - 0)/20.000) 5,42/share

Sales or Revenue
Cost of Goods Sold = Beg Inv + Cost good of purchased - Ending Inventory
Gross Profit
Selling Expenses
Administrative or General Expenses
Other Income and Expense
Income from Operations
Financing costs
Income before Income Tax
Income Tax
Income from Continuing Operations
Discontinued Operations
Net Income
Non-Controlling Interest
Earnings Per Share
 Hasbro Inc
Statement of Changes in Equity
For the periode ended December 31, 2019

Share
Capital- Retained
Ordinary Earnings

Beginning Balance 300,000 20,000

Issued share capital-ordinary 30,000

Net income 100,000

Dividends (9,000)

Other comprehensive income:

Unrealized holding loss

Ending Balance 330,000 111,000

in Equity
mber 31, 2019

Accumulated
Other
Comprehensive Income TOTAL

50,000 370,000

30,000

100,000

(9,000)

(5,000) (5,000)

45,000 486,000