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EXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 (S in millions, except earnings per share) Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expense Restructuring costs Total operating expenses Operating income Other income: Interest revenue Gain on sale of investments Total other income Income from continuing operations before income taxes Income tax expense Income from continuing operations Discontinued operations: Income from operations of discontinued component (incl. gain on disposal of $30)

EXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 (S in millions, except earnings per share) Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expense Restructuring costs Total operating expenses Operating income Other income: Interest revenue Gain on sale of investments Total other income Income from continuing operations before income taxes Income tax expense Income from continuing operations Discontinued operations: Income from operations of discontinued component (incl. gain on disposal of $30)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 22BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...
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The income statement is incomplete but that is the format that is needed

Income Statement for the Year Ended December 31, 2021 (S in millions, except earnings per share) Revenues and gains: Sales revenue 425 Interest revenue 4 Other income 126 Total revenues and gains Expenses: Cost of goods sold Selling and administrative expense Income tax expense 555 245 154 39 Total expenses Net income 438 $ 117 Earnings per share $ 5.85 Additional information ($ in millions): Selling and administrative expenses include restructuring costs Other income includes extraordinary gain Other income gain from sale of investments Cost of goods sold increase to correct error in 2020 ending inventory Income tax rate 26 $ 120 $ 40 25% Outstanding shares of common stock 20 %24 %24 %24 %24
Transcribed Image Text:Income Statement for the Year Ended December 31, 2021 (S in millions, except earnings per share) Revenues and gains: Sales revenue 425 Interest revenue 4 Other income 126 Total revenues and gains Expenses: Cost of goods sold Selling and administrative expense Income tax expense 555 245 154 39 Total expenses Net income 438 $ 117 Earnings per share $ 5.85 Additional information ($ in millions): Selling and administrative expenses include restructuring costs Other income includes extraordinary gain Other income gain from sale of investments Cost of goods sold increase to correct error in 2020 ending inventory Income tax rate 26 $ 120 $ 40 25% Outstanding shares of common stock 20 %24 %24 %24 %24
ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 (S in millions, except earnings per share) Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expense Restructuring costs Total operating expenses Operating income Other income: Interest revenue Gain on sale of investments Total other income Income from continuing operations before income taxes Income tax expense Income from continuing operations Discontinued operations: Income from operations of discontinued component (incl. gain on disposal of $30) Income tax exnense
Transcribed Image Text:ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 (S in millions, except earnings per share) Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expense Restructuring costs Total operating expenses Operating income Other income: Interest revenue Gain on sale of investments Total other income Income from continuing operations before income taxes Income tax expense Income from continuing operations Discontinued operations: Income from operations of discontinued component (incl. gain on disposal of $30) Income tax exnense
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