repare a corrected income statement, including the appropriate per share disclosures. (R JAL
repare a corrected income statement, including the appropriate per share disclosures. (R JAL
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 38E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...
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Please do not give solution in image format thanku
![Net sales
Cost of Goods Sold
Gross Profit/(Loss)
For the Year Ended December 31, 2022
>
<
<
<
€
€
850000
640,000
210000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac69951b-8728-46ae-8bfb-4f439eaff53e%2F59a8455c-0399-43ed-a490-cf7342a5d8be%2Ftgouigq_processed.png&w=3840&q=75)
Transcribed Image Text:Net sales
Cost of Goods Sold
Gross Profit/(Loss)
For the Year Ended December 31, 2022
>
<
<
<
€
€
850000
640,000
210000
![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.
2.
Kinder Company
Income Statement
For the Year Ended December 31, 2022
3.
Net sales
€ 640,000
70,000
20,000
Cost of Goods Sold
"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.
Prepare a corrected income statement, including the appropriate per share disclosures. (Round earnings per share to 2 decimal places,
e.g. $1.48. Enter negative amounts using either a negative sign preceding the number e.g. -45.00 or parentheses e.g. (45.00).)
£850,000
Kinder Company
Income Statement
For the Year Ended December 31, 2022
730,000
120,000
36,000
€84,000
€
850000
640,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac69951b-8728-46ae-8bfb-4f439eaff53e%2F59a8455c-0399-43ed-a490-cf7342a5d8be%2Fcfq4r2m_processed.png&w=3840&q=75)
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.
2.
Kinder Company
Income Statement
For the Year Ended December 31, 2022
3.
Net sales
€ 640,000
70,000
20,000
Cost of Goods Sold
"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.
Prepare a corrected income statement, including the appropriate per share disclosures. (Round earnings per share to 2 decimal places,
e.g. $1.48. Enter negative amounts using either a negative sign preceding the number e.g. -45.00 or parentheses e.g. (45.00).)
£850,000
Kinder Company
Income Statement
For the Year Ended December 31, 2022
730,000
120,000
36,000
€84,000
€
850000
640,000
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