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Q1. Using the following information, prepare an income statement in XBRL format. Bicycles OnLine, Inc. Consolidated Statements of Income - Unaudited (Amounts reported in thousands
Q1. Using the following information, prepare an income statement in XBRL format.
Bicycles OnLine, Inc. Consolidated Statements of Income - Unaudited (Amounts reported in thousands in U.S. dollars, except for shares information) Twelve months ended Dec 31, 2014 Dec 31, 2013 Net sales $21,333 $20,958 Services revenue, net 590 $490 Cost of goods & services 15,633 15,502 Financial services costs 26 22 Gross profit 6,264 5,924 Interest expense Advertising expenses General & administrative expenses Income from operations 1,520 1,433 999 2,312 1,620 1,432 995 1,877 Nonoperating rental income Income from continuing operations 390 2,702 565 2,442 Income tax expense 1,209 1,199 $1,493 $1,243 $0.04 $0.03 Weighted avg common shares outstanding Basic 1,946,785 1,946,785 Net income Earnings per common share BasicStep by Step Solution
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