Income statement. Construct the Barron Pizza, Inc. income statement for the year ending 2015 with the following information (t
he dollar amounts are in thousands of dollars): Shares outstanding: 16,600,000 Tax rate: 375% Interest expense: $6,000 Revenue: $889,413 Depreciation: $31,373 Selling, general, and administrative expense: $77,567 Other income: $1,244 Research and development: $4,095 Cost of goods sold: $750,631 Income Statement Barron Pizza, Incorporated Year Ending 2015 (thousands of dollars) 1 $2 $Gross proft $ 3 $4 $Operating income $ 6 $EBIT $7 $ Income before tax $8 $Net income $Shares outstanding $Earnings per share $
1 answer:
Explanation:
The construction of the income statement for the year ending 2015 is attached in the attachment. Kindly find it below:
As we know that the income statement records only the revenue and the expenses for the particular year
If the income is higher than the revenue, the company earns the net income otherwise it is a net loss and the same is to be reported on the statement of the stockholder equity
The earning per share is
= Net income ÷ Shares outstanding
and the same is shown in the attachment
You might be interested in
Solution :
Number of days = 90 days
Amount invested = $45 million
So the current earnings is
The number of days is reduced to 50 days. So we can now make the same amount in just 50 days.
So the net increase is what we will make in the remaining days.
If in 50 days, we earn 0.075 return, then we can consider 50 days as
Then the days =
return, and
days =
= million increase
= $ 5.7 million
Answer:
The correct interpretation of the given problem is outlined in the following portion of the explanation.
Explanation:
On 2019,
Company purchased = $540,000
Life useful = 5 years
(1)...
On year 2019,
On putting the values, we get
⇒
⇒
Journal - Dr $108,000 in depreciation A/c.
(2)...
Assets A/c Dr $ 92,880, To reassess surplus $92,880
Now,
On putting the values, we get
⇒
⇒ (Gained revaluation)
(3)...
On year 2020,
On putting values,
⇒
⇒
Journal - Depreciation A/c Dr. $131,220
.
(4)...
Surplus revaluation: Dr $39,312
On putting values,
⇒
⇒ (Loss revaluation)