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Thomas Gilliam E4-6 (a) PARNEVIK CORP.

Income Statement For the Year Ended Decemeber 31, 2012 Sales Revenue Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling expenses Salaries and wages expense Supplies Depreciation on plant assets (70 %) Administrative expenses Salaries and wages expense Other administrative expenses Depreciation on plant assets (30 %) Income from operations Other Revenues and Gains Rent revenue Other Expenses and Losses Interest expense Income before income tax Income tax Net income for the year Earnings per common share

$ $ $

980,000 (516,000) 464,000

114,800 17,600 45,500 135,900 51,700 19,500

177,900

207,100

385,000 79,000 29,000 108,000 18,000 90,000 30,600 59,400 2.97

29,000

$ $

Thomas Gilliam E4-6 (b) PARNEVIK CORP. Income Statement For the Year Ended in December 31, 2012 Revenues Net sales Rent revenue Total revenues Expenses Cost of goods sold Selling expenses Administrative expenses Interest expense Income tax expense Total expenses Net Income Earnings per common share

$ 980,000 29,000 1,009,000 516,000 177,900 207,100 18,000 30,600 949,600 $ $ 59,400 2.97