DICKINSON

COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2010

Sales……………………………………………………………………………………. 25,000,000
Cost of goods sold…………………………………………………………….. 16,000,000

Gross profit. ………………………………………………………………………. 9,000,000

Selling and administrative expenses……………………………………. 4,700,000

4,300,000

Other income and expense
Gain on the sale of investments……………110,000
Loss due to flood damage…………………….(390,000)
Write-off of goodwill……………………………(820,000). (1,100,000)

Income from operations………………………………………………………. 3,200,000
Interest expense......……………………………………………………………. 70,000

Income before income tax ………………………………………………….. 3,130,000
Income tax....... ……………………………………………………………………. 1,244,000

Income from continuing operations…………………………………….. 1,886,000
Discontinued operations
Loss on operations, net of tax…….. 90,000
Loss on disposal, net of tax………... 440,000 (530,000)

Net income.......………………………………………………………………………. 1,356,000



Earnings per share:
Income from continuing operations. $3.61
Discontinued operations
Loss on operations, net of tax (0.18)
Loss on disposal, net of tax. . (0.88). (1.06)

Net income...... $2.55

$1,886,000-$80,000/ 500,000 shares = $3.61

$1,356,000-$80,000/500,000 shares = $2.55







 DICKINSON COMPANY
Retained Earnings Statement
For the Year Ended December 31, 2010



Retained earnings, January1. $980,000 .
Add: Net income...... 1,356,000
2,336,000

Less: Dividends
Preference shares $80,000
Ordinary shares. 250,000 330,000
Retained earnings, December 31. 2,006,000