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  • Arp 4

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    Ega N Widjaja
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    The income statement for Sunset Optics Inc for the year ended 08/31/2009 shows total sales of $73,040,000 with beginning inventory of $2,921,600 and purchases of $2,300,000 for total available for sale of $3,400,000 and ending inventory of $3,260,000 resulting in cost of goods sold of $54,064,000. This led to a gross profit of $18,976,000. Total operating expenses were $51,624,000, resulting in income from continuing operations before tax of $8,540,000. After paying income tax of 30% ($2,794,320), income from continuing operations was $6,520

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    The income statement for Sunset Optics Inc for the year ended 08/31/2009 shows total sales of $73,040,000 with beginning inventory of $2,921,600 and purchases of $2,300,000 for total available for sale of $3,400,000 and ending inventory of $3,260,000 resulting in cost of goods sold of $54,064,000. This led to a gross profit of $18,976,000. Total operating expenses were $51,624,000, resulting in income from continuing operations before tax of $8,540,000. After paying income tax of 30% ($2,794,320), income from continuing operations was $6,520

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    11 views1 page

    Arp 4

    Uploaded by

    Ega N Widjaja
    The income statement for Sunset Optics Inc for the year ended 08/31/2009 shows total sales of $73,040,000 with beginning inventory of $2,921,600 and purchases of $2,300,000 for total available for sale of $3,400,000 and ending inventory of $3,260,000 resulting in cost of goods sold of $54,064,000. This led to a gross profit of $18,976,000. Total operating expenses were $51,624,000, resulting in income from continuing operations before tax of $8,540,000. After paying income tax of 30% ($2,794,320), income from continuing operations was $6,520

    Copyright:

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    Sunset Optics Inc Income Statement For year ended 08/31/2009 Sales Beg.

    Inventory (Add) Purchases Available for sale (Less) End. Inventory (Less) Cost of goods sold Gross Profit Operating Expenses Bad Debt Expenses Depreciation Expenses Amortization Expense Marketing & Dist. Exp. Administrative Expense Other Expenses Interest Expense on Notes Payable Income from continuing operations before inc. tax Income Tax Exp (30%) Income from continuing operations Extra Ordinary Loss Loss from product tampering Income tax reduction Net Income Earnings per share Weighted average # of shares Income before extraordinary loss Extra ordinary loss, net of tax Net Income Basic 1,025,000 $ 5.78 (1.71) $ 4.07 Diluted 1,225,000 $ 4.83 (1.43) $ 3.40 2,921,600 2,300,000 40,000 3,400,000 3,260,000 $ 73,040,000 6,100,000 54,064,000 60,164,000 (8,540,000) (51,624,000) 21,416,000

    (11,921,600) (180,000) 9,314,400 (2,794,320) 6,520,080

    2,500,000 (750,000)

    (1,750,000) $ 4,770,080

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