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Lambertini Corporation gathered the following information on December 31, 2021 USD'000 Cost of goods sold 510 000 Cumulative effect of a change in inventory method
Lambertini Corporation gathered the following information on December 31, 2021 | ||||||
USD'000 | ||||||
Cost of goods sold | 510 000 | |||||
Cumulative effect of a change in inventory method (credit) | 25 000 | |||||
Extraordinary gain | 20 000 | |||||
Gain on sale of equipment | 20 000 | |||||
Interest expense | 30 000 | |||||
Loss on sale of discontinued operations | 15 000 | |||||
Operating expenses | 175 000 | |||||
Operating income from discontinued operations | 35 000 | |||||
Prior-period adjustment-debit to retained earnings | 17 000 | |||||
Sales revenue | 892 000 | |||||
Treasury stock, common | 38 000 | |||||
Income tax expense (savings): | ||||||
Continuing operations | 62 000 | |||||
Discontinued operations: | ||||||
Operating income | 14 000 | |||||
Loss on sale | - 6 000 | |||||
Extraordinary gain | 8 000 | |||||
Cumulative effect of change in inventory method | 10 000 | |||||
Required: | ||||||
Complete the income statement for Lambertini Corporation, including earnings per share figures. | ||||||
Lambertini Industries has 10,000 shares of a single class of common stock outstanding during the year. | ||||||
Lambertining corporation operates in the USA and is governed by the US GAAP |
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