Business
Business, 12.10.2021 07:50, chrisraptorofficial

The preliminary 2021 income statement of Alexian Systems, Inc., is presented below: ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share)

Revenues and gains:
Sales revenue $485
Interest revenue 15
Other income 137
Total revenues and gains 637
Expenses:
Cost of goods sold 281
Selling and administrative expense 156
Income tax expense 50
Total expenses 487
Net Income $150
Earnings per share $15.00

Additional information:
1. Selling and administrative expense includes $37 million in restructuring costs.
2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $17 million is from the gain on sale of investments.
3. Cost of Goods Sold in 2021 was increased by $5 million to correct an error in the calculation of 2020's ending inventory. The amount is material.

Required:
Prepare a revised income statement for 2021 reflecting the additional facts.

answer
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 11:50, CheddaDsk
What is marketing’s contribution to the new product development team? a. technical expertise needed to translate designs into an actual product/service. b. deep customer insight that leads to product ideas. c. ability to assess financial viability d. feedback on design as well as how customers will actually use the product e. technical expertise needed to translate concepts into product/service designs.
Answers: 2
image
Business, 23.06.2019 01:00, jaaja
While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino royale. what implication does she encounter when she goes to collect her prize?
Answers: 3
image
Business, 23.06.2019 09:50, jarteria0
Frick (1991) claimed that computers would become so powerful that k-12 educators and students would be able to produce their own multimedia and web-based learning materials. he predicted that teachers and students would soon be able to use computer-video technology to produce their own learning materials. all it would require is time, know-how, and some funds.
Answers: 3
image
Business, 23.06.2019 19:40, avisconti571
Rashid, the ceo of top productions, was telling his new vice president of accounting that "in the past i had resistance to new ideas by people who felt that one of our plans threatens their influence or jobs. so when you tell your collections department that we just hired a collection agency to handle bad debt, you may have to sell your collections manager and his supervisors on using the agency and that nobody is going to be laid off." selling middle and supervisory managers on changes to overcome their resistance is often a necessary part of
Answers: 2
Do you know the correct answer?
The preliminary 2021 income statement of Alexian Systems, Inc., is presented below: ALEXIAN SYSTEM...

Questions in other subjects:

Konu
Mathematics, 15.11.2020 05:30
Konu
Biology, 15.11.2020 05:30