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Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Net sales Costs and expenses: Cost of goods sold Selling, general, and administrative expenses Other, net Income before income taxes Income taxes Net income Kinder Company Income Statement For the Year Ended December 31, 2022 Additional information: 1. 2. 3. £640,000 70,000 20,000 £850,000 730,000 120,000 36,000 £84,000 "Selling, general, and administrative expenses" included a charge of £7,000 for impairment of intangibles. "Other, net" consisted of interest expense, £5,000, and a discontinued operations loss of £15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been £40,500 instead of £36,000. Kinder had 20,000 ordinary shares outstanding during 2022.

Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Net sales Costs and expenses: Cost of goods sold Selling, general, and administrative expenses Other, net Income before income taxes Income taxes Net income Kinder Company Income Statement For the Year Ended December 31, 2022 Additional information: 1. 2. 3. £640,000 70,000 20,000 £850,000 730,000 120,000 36,000 £84,000 "Selling, general, and administrative expenses" included a charge of £7,000 for impairment of intangibles. "Other, net" consisted of interest expense, £5,000, and a discontinued operations loss of £15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been £40,500 instead of £36,000. Kinder had 20,000 ordinary shares outstanding during 2022.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Net sales Cost of Goods Sold Gross Profit/(Loss) Selling, general, and administrative expenses Per Share Kinder Company Income Statement For the Year Ended December 31, 2022 Discontinued Operations, Net of Tax Net Income /(Loss) £ £
Transcribed Image Text:Net sales Cost of Goods Sold Gross Profit/(Loss) Selling, general, and administrative expenses Per Share Kinder Company Income Statement For the Year Ended December 31, 2022 Discontinued Operations, Net of Tax Net Income /(Loss) £ £
Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Net sales Costs and expenses: Cost of goods sold Selling, general, and administrative expenses Other, net Income before income taxes Income taxes Net income Additional information: 1. Kinder Company Income Statement For the Year Ended December 31, 2022 2. 3. £640,000 70,000 20,000 £850,000 730,000 120,000 36,000 £84,000 "Selling, general, and administrative expenses" included a charge of £7,000 for impairment of intangibles. "Other, net" consisted of interest expense, £5,000, and a discontinued operations loss of £15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been £40,500 instead of £36,000. Kinder had 20,000 ordinary shares outstanding during 2022.
Transcribed Image Text:Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Net sales Costs and expenses: Cost of goods sold Selling, general, and administrative expenses Other, net Income before income taxes Income taxes Net income Additional information: 1. Kinder Company Income Statement For the Year Ended December 31, 2022 2. 3. £640,000 70,000 20,000 £850,000 730,000 120,000 36,000 £84,000 "Selling, general, and administrative expenses" included a charge of £7,000 for impairment of intangibles. "Other, net" consisted of interest expense, £5,000, and a discontinued operations loss of £15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been £40,500 instead of £36,000. Kinder had 20,000 ordinary shares outstanding during 2022.
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