I need the exact format that is provided to fill it out please...
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
I need the exact format that is provided to fill it out please...

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

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

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 4 images

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


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education