425 3 126 554 270 154 52 476 78 3.9 Belinda Santos P 4 – 4 Revenues and gains: Net sales Interest Other income Total revenues and gains Expenses: Cost of goods sold Selling and administrative Income Taxes Total expenses Net Income Earnings per Share Alexian Systems, Incl Income Statement For the Year Ended December 31,2013 ($ in millions, except earnings per share) 2. Included in other income is an extraordinary loss of $90 million. The remaining amount is a gain on the sale of operating assets. 1. Administrative expenses include $40,000.
425 3 126 554 270 154 52 476 78 3.9 Belinda Santos P 4 – 4 Revenues and gains: Net sales Interest Other income Total revenues and gains Expenses: Cost of goods sold Selling and administrative Income Taxes Total expenses Net Income Earnings per Share Alexian Systems, Incl Income Statement For the Year Ended December 31,2013 ($ in millions, except earnings per share) 2. Included in other income is an extraordinary loss of $90 million. The remaining amount is a gain on the sale of operating assets. 1. Administrative expenses include $40,000. in restructuring costs. It also includes impairment of long-lived assets of 10,000.* Both are considered infrequent but NOT unusual. 3. Cost of goods sold was increased by $5 million to correct an error in the calculation of 2012’s ending inventory. The amount is mutual. Prepare a revised income statement. Income tax rate is 40%. There were 20,000 shares of common stock outstanding throughout the year. ????????????
Attachments:
accounting_p4….xlsx