Calculate other expense income:Income Statement May 31, 2021May 31, 2020May 31, 2019REVENUE $ 83,959 $ 69,217 $ 69,693OPERATING EXPENSES: Salaries and employee benefits30,17325,03124,776Purchased transportation21,67417,46616,654Rentals and landing fees4,1553,7123,360Depreciation and amortization3,7933,6153,353Fuel2,8823,1563,889Maintenance and repairs3,3282,8932,834Business realignment costs116 320Goodwill and other asset impairment charges 435 Other11,98110,49210,041OPERATING EXPENSES78,10266,80065,227OPERATING INCOME5,8572,4174,466OTHER (EXPENSE) INCOME: Interest expense(793)(672)(588)Interest income525559Other retirement plans income (expense)1,983(122)(3,251)Loss on debt extinguishment(393) Other, net(32)(9)(31)OTHER (EXPENSE) INCOME817(748)(3,811)INCOME BEFORE INCOME TAXES6,6741,669655PROVISION FOR INCOME TAXES1,443383115NET INCOME $ 5,231 $ 1,286 $ 540BASIC EARNINGS PER COMMON SHARE $ 19.79 $ 4.92 $ 2.06DILUTED EARNINGS PER COMMON SHARE $ 19.45 $ 4.90 $ 2.03

Other Income (Expenses): Profit on the disposal of property, plant, and equipment, among other…

Answered: Calculate other expense income: Income…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 10P: Bonus Obligation and Income Tax Expense James Kimberley, president of National Motors, receives a...

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Calculate other expense income:

Income Statement	May 31, 2021	May 31, 2020	May 31, 2019
REVENUE	$ 83,959	$ 69,217	$ 69,693
OPERATING EXPENSES:
Salaries and employee benefits	30,173	25,031	24,776
Purchased transportation	21,674	17,466	16,654
Rentals and landing fees	4,155	3,712	3,360
Depreciation and amortization	3,793	3,615	3,353
Fuel	2,882	3,156	3,889
Maintenance and repairs	3,328	2,893	2,834
Business realignment costs	116		320
Goodwill and other asset impairment charges		435
Other	11,981	10,492	10,041
OPERATING EXPENSES	78,102	66,800	65,227
OPERATING INCOME	5,857	2,417	4,466
OTHER (EXPENSE) INCOME:
Interest expense	(793)	(672)	(588)
Interest income	52	55	59
Other retirement plans income (expense)	1,983	(122)	(3,251)
Loss on debt extinguishment	(393)
Other, net	(32)	(9)	(31)
OTHER (EXPENSE) INCOME	817	(748)	(3,811)
INCOME BEFORE INCOME TAXES	6,674	1,669	655
PROVISION FOR INCOME TAXES	1,443	383	115
NET INCOME	$ 5,231	$ 1,286	$ 540
BASIC EARNINGS PER COMMON SHARE	$ 19.79	$ 4.92	$ 2.06
DILUTED EARNINGS PER COMMON SHARE	$ 19.45	$ 4.90	$ 2.03

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