XYZ corporation Income statement For current year Revenue from sales Cost of Goods Sold Gross profit...
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XYZ corporation Income statement For current year Revenue from sales Cost of Goods Sold Gross profit Book Income $ 40,000,000 (27,000,000) $13,000,000 Other income: Income from investment in corporate stock Interest income Capital gains (losses) Gain or loss from disposition of fixed assets Miscellaneous income Gross Income Compensation Stock option compensation Advertising Repairs and Maintenance Rent Bad Debt expense Depreciation Warranty expenses Charitable donations Meals (all at restaurants) Goodwill impairment Organizational expenditures Other expenses Total expenses Income before taxes Provision for income taxes Net Income after taxes Expenses: 300,0001 20,000 (4,000) 3,000 50,000 $ 13,369,000 (7,500,000)4 (200,000)5 (1,350,000) (75,000) (22,000) (41,000) 6 (1,400,000) 1 (70,000)8 (500,000)9 (18,000) (30,000) 10 (44,000) 11 (140,000) $ (11,390,000) $1,979,000 (400,000)1 $ 1,579,000 12 13 XYZ corporation Income statement For current year Revenue from sales Cost of Goods Sold Gross profit Book Income $ 40,000,000 (27,000,000) $13,000,000 Other income: Income from investment in corporate stock Interest income Capital gains (losses) Gain or loss from disposition of fixed assets Miscellaneous income Gross Income Compensation Stock option compensation Advertising Repairs and Maintenance Rent Bad Debt expense Depreciation Warranty expenses Charitable donations Meals (all at restaurants) Goodwill impairment Organizational expenditures Other expenses Total expenses Income before taxes Provision for income taxes Net Income after taxes Expenses: 300,0001 20,000 (4,000) 3,000 50,000 $ 13,369,000 (7,500,000)4 (200,000)5 (1,350,000) (75,000) (22,000) (41,000) 6 (1,400,000) 1 (70,000)8 (500,000)9 (18,000) (30,000) 10 (44,000) 11 (140,000) $ (11,390,000) $1,979,000 (400,000)1 $ 1,579,000 12 13
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