The following income statements for SOS Staffing Services, Inc. were extracted from the SECs EDGAR database (see
Question:
The following income statements for SOS Staffing Services, Inc. were extracted from the SEC’s EDGAR database (see next page)
SOS Staffing Services, Inc.
Consolidated Statements of Income Fiscal Years Ended December 28, 1997, December 29, 1996 and December 31, 1995 Fiscal Year (52 Weeks) Ended ----------------------------------------------------
1997 1996 1995 ----------------------------------------------------
SERVICE REVENUES $ 209,250,847 $ 136,163,973 $ 87,532,903 DIRECT COST OF SERVICES 162,539,859 108,589,322 69,353,212 ----------------------------------------------------
Gross profit 46,710,988 27,574,651 18,179,691 ----------------------------------------------------
OPERATING EXPENSES:
Selling, general and administrative 32,867,550 20,397,240 13,826,034 Intangibles and amortization 1,492,637 470,119 32,566 ----------------------------------------------------
Total operating expenses 34,360,187 20,867,359 13,858,600 ----------------------------------------------------
INCOME FROM OPERATIONS 12,350,801 6,707,292 4,321,091
Step by Step Answer:
Financial Accounting Reporting And Analysis
ISBN: 9780324149999
6th Edition
Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice