Homework Help is Here – Start Your Trial Now!
Business
Accounting
I need the exact format that is provided to fill it out please...

I need the exact format that is provided to fill it out please...

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

I need the exact format that is provided to fill it out please...

 

ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share) Sales revenue Cost of goods sold Gross profit 425 (285) 140 Cperating expenses Selling and administrative expense Restruoturing costs Total operating expenses Operating income 24 128 26 154 (14) Oher inoome: Interest revenue 4 Gain on sale of investments Total other income Income from continuing operations before 126 130 income taxes 116 Income tax expense (29) Income from continuing operations Disoontinued operations: Income from operations of discontinued component (inol. gain on disposal of $30 Income tax expense 87 30 Income on discontinued operations Net income 20 shares 5.85 Earnings per share: Income from oontinuing operations Discontinued operations Net inoome
Transcribed Image Text:ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share) Sales revenue Cost of goods sold Gross profit 425 (285) 140 Cperating expenses Selling and administrative expense Restruoturing costs Total operating expenses Operating income 24 128 26 154 (14) Oher inoome: Interest revenue 4 Gain on sale of investments Total other income Income from continuing operations before 126 130 income taxes 116 Income tax expense (29) Income from continuing operations Disoontinued operations: Income from operations of discontinued component (inol. gain on disposal of $30 Income tax expense 87 30 Income on discontinued operations Net income 20 shares 5.85 Earnings per share: Income from oontinuing operations Discontinued operations Net inoome
ALEXIAN SYSTEMS, INC. Income Statement for the Year Ended December 31, 2021 ($ in millions, except earnings per share) Revenues and gains: Sales revenue 425 Interest revenue 4 Other income 126 Total revenues and gains Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses 555 245 154 39 438 Net income $ 117 Earnings per share $ 5.85 Additional information ($ in millions): Selling and administrative expenses inclu restructuring costs Other income includes extraordinary gain S Other income gain from sale of investmen $ Cost of goods sold increase to correct error in 2020 ending inventory $ 26 120 $ 40 Income tax rate 25% Outstanding shares of common stock 20 %24
Transcribed Image Text:ALEXIAN SYSTEMS, INC. Income Statement for the Year Ended December 31, 2021 ($ in millions, except earnings per share) Revenues and gains: Sales revenue 425 Interest revenue 4 Other income 126 Total revenues and gains Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses 555 245 154 39 438 Net income $ 117 Earnings per share $ 5.85 Additional information ($ in millions): Selling and administrative expenses inclu restructuring costs Other income includes extraordinary gain S Other income gain from sale of investmen $ Cost of goods sold increase to correct error in 2020 ending inventory $ 26 120 $ 40 Income tax rate 25% Outstanding shares of common stock 20 %24
Expert Solution
steps

Step by step

Solved in 2 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Basic Accounting Terms
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
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS