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SINDIKAT 3

Ratna Sari Raditha Ning Tyas


Rayhan Armand N.
Florentina Andre
Jonathan Somba S
Kristianto Wicaksana
E4-6

29114357
29114863
29114312
29114307
29114305

Parnevik Corp
Income Statement
December 31, 2010
Sales
Less: Sales return and allowances
Sales discounts
Net Sales

150,000

45,000

Cost of Goods Sold


GROSS PROFIT
OPERATING EXPENSE
Selling expense
Admin and general expense
Other Income and Expense
Loss from impairment
of plant assets

194,000

97,000

Interest revenue
Income from operations

1,280,000

$
$

195,000
1,085,000

$
$

621,000
464,000

$
$

291,000
173,000

(120,000)
86,000 $
$

(34,000)
139,000

Interest expense
Income before tax

$
$

60,000
79,000

Income tax

26,860

52,140

Net Income
EPS

0.5214

E4-8
(a)
McGraw Corporation
Income Statement
December 31, 2010
Net Sales
Less:Cost of Goods Sold
Administrative expenses
Selling expenses
Discontinued operations-loss
Income before income tax
Income tax
Net Income
(b)
Income before income tax (60,000+40,000)
(40,000 from discontinued operations)
Income tax
income from continuing operations
Discontinued operations (40,000*0.3)
Net income
Earnings per share:
Income from continuing operations
(70,000/20,000)
Loss on discontinued operations, net of tax
(28,000/20,000)
Net income
(42,000/20,000)

260,000
100,000
80,000
40,000

540,000

480,000
60,000

18,000

42,000

100,000

30,000
70,000
(28,000)

42,000

3.50
(1.40)

2.10

E4-9
Brokaw Corp.
Income Statement
For the Year Ended December 31, 2010
Net Sales

1,200,000

Cost of Goods Sold


Gross Profit

$
$

780,000
420,000

$
$

113,000
307,000

Selling expenses

65,000

Administrative expenses

48,000

$
$

20,000
7,000

Other income and expense


Dividend Revenue
Interest Revenue
Write-off of inventory
due to obsolescence
Interest from operations
Interest Expense
Income before income tax

(80,000) $

(53,000)

$
$
$

254,000
50,000
204,000

Income tax
Net income

$
$

69,360
134,640

Earnings per share

2.24

$
$

980,000
26,400

953,600

Add: Net Income

$
$

134,640
1,088,240

Less: Dividends declared


Retained earnings, Dec 31

$
$

45,000
1,043,240

Brokaw Corp.
Retained Earnings Statement
For the Year Ended December 31, 2010
Retained Earnings, Jan 1
Correction of depreciation error
40,000-(40,000*0.34)
Retained Earnings, Jan 1 as adjusted