1 2 Excel File Edit View Insert Format Tools Data Window Help AutoSave OFF C ACC 2302 amour Home Insert Draw Page Layout Formulas Data Review View Automate Te Arial 12 3 A A General Paste BIU A29 $ -% Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left X fx Income before income tax Stargel, Inc. Comparative Retained Earnings Statements For the Years Ended December 31, 2012 and 2011 C D 6 Retained earnings, January 1 7 Net income a Dividends 9 Preferred 10 Common 11 Total dividends 12 Retained earnings, December 31 13 14 15 16 17 18 19 Stargel, Inc. 2012 2011 $ 5,375,000 $ 4,545,000 900,000 925,000 45,000 45,000 50,000 50,000 95,000 95,000 $ 6,180,000 $ 5,375,000 Comparative Income Statements For the Years Ended December 31, 2012 and 2011 2012 2011 20 Sales 21 Cost of goods sold 22 Gross profit 23 Selling expenses 24 Administrative expenses 25 26 Total operating expenses Income from operations 27 Other income 28 Interest expense 29 Income before income tax 30 Income tax expense $ 10,000,000 $ 9,400,000 5,350,000 4,950,000 4,650,000 4,450,000 2,000,000 1,880,000 1,500,000 1,410,000 3,500,000 3,290,000 1,150,000 1,160,000 150,000 140,000 (170,000) (150,000) 1,130,000 1,150,000 230,000 225,000 31 32 Net income $ 900,000 $ 925,000 liquidity example ratios example + Ready Accessibility: Good to go 19 "D)