Explain the income statement
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 94.4C
Related questions
Question
Explain the income statement.
Expert Solution
Review of 3 Months(ending september 30):
The given Income Statement is a Consolidated Income Statement of Chevron Corporation giving information about the year 2019 and 2020. It has incurred a loss attributable of $209 million in its last 3 months ending 30 Sept 2020. The profit as compared to last year(2019) same quarter has gone down by $2,787 million. The reason which can be seen as per the income statement is the reduction of revenue from sales and other operating activities as there is no big difference is expense cost in both years. Earning per share has reduced from $1.38 to loss of $0.12 per share.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning