Presented below is an income statement for Kinder Company for the year ended December 31, 2022....
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Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Kinder Company Income Statement For the Year Ended December 31, 2022 Net sales 850,000 Costs and expenses: Cost of goods sold 640,000 Selling, general, and administrative expenses 70,000 Other, net 20,000 730,000 Income before income taxes 120,000 Income taxes 36,000 Net income 84,000 Additional information: 1. "Selling, general, and administrative expenses" included a charge of 7,000 for impairment of intangibles. 2. "Other, net" consisted of interest expense, 5,000, and a discontinued operations loss of 15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been 40,500 instead of 36.000. 3. Kinder had 20,000 ordinary shares outstanding during 2022. Prepare a corrected income statement, including the appropriate per share disclosures. (Round earnings per share to 2 decimal places eg. $1.48. Enter negative amounts using either a negative sign preceding the number eg-45.00 or parentheses eg. (45.00)) Kinder Company Income Statement For the Year Ended December 31, 2022 Net sales Cost of Goods Sold Selling, general, and administrative expenses Loss on impairment Net sales Sales Revenue Selling, general, and administrative expenses Income Taxes Income Before Income Taxes Discontinued Operations Loss on disposal of component Other Revenue Per Share Other income and expense Income from Continuing Operations Gross Profit/(Loss) Cost of Goods Sold Net Income/(Loss) Income from Operations Other Expenses Discontinued Operations, Net of Tax Income Before Income Taxes Income Taxes Presented below is an income statement for Kinder Company for the year ended December 31, 2022. Kinder Company Income Statement For the Year Ended December 31, 2022 Net sales 850,000 Costs and expenses: Cost of goods sold 640,000 Selling, general, and administrative expenses 70,000 Other, net 20,000 730,000 Income before income taxes 120,000 Income taxes 36,000 Net income 84,000 Additional information: 1. "Selling, general, and administrative expenses" included a charge of 7,000 for impairment of intangibles. 2. "Other, net" consisted of interest expense, 5,000, and a discontinued operations loss of 15,000 before taxes. If the loss had not occurred, income taxes for 2022 would have been 40,500 instead of 36.000. 3. Kinder had 20,000 ordinary shares outstanding during 2022. Prepare a corrected income statement, including the appropriate per share disclosures. (Round earnings per share to 2 decimal places eg. $1.48. Enter negative amounts using either a negative sign preceding the number eg-45.00 or parentheses eg. (45.00)) Kinder Company Income Statement For the Year Ended December 31, 2022 Net sales Cost of Goods Sold Selling, general, and administrative expenses Loss on impairment Net sales Sales Revenue Selling, general, and administrative expenses Income Taxes Income Before Income Taxes Discontinued Operations Loss on disposal of component Other Revenue Per Share Other income and expense Income from Continuing Operations Gross Profit/(Loss) Cost of Goods Sold Net Income/(Loss) Income from Operations Other Expenses Discontinued Operations, Net of Tax Income Before Income Taxes Income Taxes
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