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Operating Nonoperating
Activities vs. Activities
Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 2001
Income Statement (Single-Step)
{
Central Company
Proper Heading Income Statement
For the Year Ended 12/31/99
Revenues and gains:
Revenues
& Gains { Sales, net
Interest income
Gain on sale of plant assets
Total revenues and gains
$ 785,250
62,187
24,600
872,037
{
Cost of goods sold $ 351,800
Selling expenses 197,350
Expenses General and admin. exp. 78,500
& Losses Depreciation 17,500
Interest 27,000
Income taxes 62,500
Loss: sale of investment 9,000
Total expenses & losses 743,650
Net income $ 128,387
{
Sales, net $ 785,250
Gross Cost of goods sold 351,800
Margin Gross margin 433,450
Operating expenses:
Operating
Expenses { Selling expenses
General & admin.
Depreciation
Income from operations
$ 197,350
78,500
17,500 293,350
140,100
Other revenues & gains:
{
Non- Interest income $ 62,187
operating Gain 24,600 86,787
Other expenses:
Items Interest $ 27,000
Loss 9,000 (36,000)
Income before taxes 190,887
Income taxes 62,500
Net income $ 128,387
I wonder how I
should report
these items.
I wonder how I
should report
these items.
PriorPeriod
Adjustments.
Earnings Per Share.
Comprehensive Income.
Statement of Cash
Flows.