The 2011, 2010, and 2009 income statements for Argon Entertainment Enterprises follow. Required: 1. Calculate how much
Question:
Required:
1. Calculate how much each of the revenues and expenses changed from 2009 through 2011 (in percentage terms, rounded to two decimal places). You do not need to include the actual dollar amounts shown above.
2. Explain the primary causes of Argon€™s increase in net income in 2010 and the decrease in 2011.
Transcribed Image Text:
Argon Entertainment Enterprises Consolidated Income Statements Year Ended December 31, 2011 2010 2009 Revenues Theme parks and resorts Filmed entertainment Consumer produchs $3,440.7 $3,306.9 $2,794.3 3,115.2 1,081.9 $8,529.2 $7,504.0 6,112.0 2,593.7 724.0 3,673.4 Costs and Expenses Theme parks and resorts Filmed entertainment $2,693.8 $2,662.9 $2,247.7 3,051.2 1,059.7 2,606.9 798.9 2,275.6 494.2 Consumer products $6,8047 $6,068.7 $5,017.5 Operating Income Theme parks and resorts Filmed entertainment 746.9 622.2 355.4 644.0 508.3 546.6 318.1 229.8 Consumer products 283.0 $1,7245 435,3 1,0945 Corporate Activities General and administrative expenses Interest expense Investment and interest income $ 164.2-$ 148.2 126.8 130.3 157.7 186.1 160.8 105.0 19.A Income {loss) on investment in Asian theme park Income before income taxes Income taxes Net income S 135.8 Γ 514.7) $1,074.0 402.7 671.3 1447146.4 $ 63.8 $1,301.8 $1,0119 375.3 485.1 816.7 636.6
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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