DICKINSON COMPANY Income Statement for the year ended in December 31, 2014

| March 29, 2017

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Could you look over my assignments and let me know if they was done correctly

DICKINSON COMPANY
Income Statement
for the year ended in December 31, 2014

Particulars

Amount

Sales
Cost of goods sold

$ 25,000,000.00
$ 16,000,000.00

Gross Profit
Selling & Administrative Expenses

$
$

9,000,000.00
4,700,000.00

Income from operations

$

4,300,000.00

110,000.00
70,000.00 $

180,000.00

Other expenses & losses:
Write-off goodwill

$

820,000.00

Income from continuing operations before income tax
Income Tax

$
$

3,660,000.00
1,244,000.00

Income from continuing operations

$

2,416,000.00

440,000.00
90,000.00 $

530,000.00

Income before Extraordinary items
Extraordinary item, loss from flood damage, net of tax

$
$

1,886,000.00
390,000.00

Net Income

$

1,496,000.00

Earnings per share:
Income from continuing operations

$

4.83

0.88
0.18 $

1.06

Income before extraordinary item
Extraordinary loss, net of tax

$
$

3.77
0.78

Net Income

$

2.99

$
$

980,000.00
1,496,000.00

250,000.00
80,000.00 $

330,000.00

$

2,146,000.00

Other revenues & gains:
Gain on sales of investments
Interest revenue

$
$

Discontinued Operations:
Loss on disposal, net of tax
Loss of operations, net of tax

$
$

Discontinued operations:
Loss on disposal, net of tax
Loss of operations, net of tax

$
$

Dickinson Company
Income Statement
For the year ended January 1, 2014
Particulars
Retained Earnings, January 1
Net Income
Dividends:
Common Stock
Preferred Stock
Reatined Earnings, December 31

Amount

$
$

E

Shiga Naoya Corporation
Income Statement
31-Dec-14
net income
Income from continuing operation before taxes
23,650,000
Income tax 23,650,000*35%
8,277,500
Income from continuing operation
15,372,500
Discount operation (loss before taxes)
3,225,000
Less income tax 3,225,000*35%
1,128,750 2,096,250
net income
13,276,250
Perferred dividends declared
1,075,000
Common share outstanding
4,000,000
Earning Per Share

Income from continuing operations
15,372,500 – $ 1,075,000/4,000,000

3.57

Discontinued operations, net of tax
2,096,250/4,000,000

0.52

net income
13,276,250 – $1,075,000/4,000,000

3.05

When doing an income statement you have to subtract the income tax from the continuing operation
then you subtract the discount operation from tax rate then you would come up with net income
put the perferred dividends declared including thhe common share outstanding
also take the income continuing operation 15,372,500 subtract 1,075,000 divide it 4,000,000
do the same with discontinued operation 2,096,250 divide it by 4,000,000
when it comes to net income subtract 13,276,250 from 1,075,000 divide by 4,000,000

C. Reither Company
Statement of stock equity
For the ended in December 31, 2014

Accumulated
other
retained comprehensive
earnings income

total
beginning balance
comprehensive income
net income
other comprehensive income
unrealize holding loss
comprehensive income
dividends

520,000

90,000

120,000

120,000

-60,000
-10,000
570,000

80,000

common
stock
350,000

-60,000
-10,000
200,000

700,000-500,000-80,000=120,000

20,000

350,000

Scott Butler Corporation
Balance sheet
31-Dec-14
current asset
cash
debt investment (trading)
account receivable
allowances for doubtful accounts
inventory
total current asset
long term investment
debt investment
equity investment
total long term investment
property, plants and equipment
land
buildings
accumulated depr. Buildings
equipment
accumulated depr. Equip.
total property, plants and equipment
tangible asset
franschises
patents
total tangible asset

197,000
153,000
435,000
-25,000

410,000
597,000
1,357,000
299,000
277,000
576,000
260,000

1,040,000
-152,000
600,000
-60,000

888,000
540,000
1,688,000
160,000
195,000
355,000
3,976,000

Liabilities and Stockholders’ Equity
current liabilities
accounts payable
notes payable (short-term)
dividens payable
accrued liabilities
total current liabilities
long term debt
notes payable (long-term)
bonds payable
total long-term liabilities
total liabilities
stockholder’s equity
paid in capital
common stock ($5 par)
1,000,000
paid in capital in excess of par
80,000
retained earnings
total retained earning and paid in capital
treasury stock
total stockholder’s equity
total liabilities and stockholder’s equity
computation of retained earnings
sales revenue
investment revenue
gain (extraordinary)
cost of good sold
selling expenses
administrative expense
interest expense
net income
beginnings retained earnings
net income
ending retained earnings
Or ending retained earnings can be computed as follows:
total stockholder’s equity
treasury stock
paid in capital in excess of par

455,000
90,000
136,000
96,000
777,000
900,000
1,000,000
1,900,000
2,677,000

1,080,000
410,000
1,490,000
-191,000
1,299,000
3,976,000
8,100,000
63,000
80,000
-4,800,000
-2,000,000
-900,000
-211,000
332,000
78,000
332,000
410,000
-1,299,000
191,000
-1,080,000
410,000

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