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Financial Reports for Investors

The document provides income statement information for Parnevik ASA for the year ended December 31, 2019. It shows the company had total sales of $1.28 million with net sales of $1.085 million after returns and discounts. Cost of goods sold was $621,000, resulting in gross profit of $464,000. Operating expenses including selling, administrative, and other expenses totaled $291,000, giving income from operations of $173,000. After interest and other expenses, as well as income tax, the company had net income of $52,140.

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247 views7 pages

Financial Reports for Investors

The document provides income statement information for Parnevik ASA for the year ended December 31, 2019. It shows the company had total sales of $1.28 million with net sales of $1.085 million after returns and discounts. Cost of goods sold was $621,000, resulting in gross profit of $464,000. Operating expenses including selling, administrative, and other expenses totaled $291,000, giving income from operations of $173,000. After interest and other expenses, as well as income tax, the company had net income of $52,140.

Uploaded by

VALENCIA TORENTHA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Parnevik ASA

Income Statement
For The Year Ender December 31, 2019
Sales Revenue
Sales
Less : Sales Returns & Allowances 150,000
Sales Discount 45,000
Net Sales
Cost of Goods Sold
Gross Profit
Operating Expense
Selling Expense 194,000
Administrative & General Expense 97,000
Other Revenue & Gains
Interest Revenue
Income from Operations
Other Expense & Losses
Interest Expense 60,000
Loss from Impairment of Plant Assets 120,000
Income Before Tax
Income Tax
Net Income

Earnings Per Share


019

1,280,000

195,000
1,085,000
621,000
464,000

291,000

86,000
259,000

180,000
79,000
26,860
52,140

0:52
Woods Corporation
Income Statement
For The Year Ended December 31, 2019
Sales Revenue

Cost of Goods Sold


Gross Profit
Operating Expense

Other Income & Expense

Income from Operations


Other Expense & Losses

Income Before Tax

Income from Continuing Operations


Discontinued Operation

Net Income
Woods Corporation
Income Statement
For The Year Ended December 31, 2019

Sales 4,175,000
Less : Sales Return & Allowance 79,000
Sales Discount 34,000 113,000
Net Sales 4,062,000
2,665,000
1,397,000

Selling Expense 69,000


Advertising Expense 54,000
Delivery Expense 93,000
Sales Commisions 83,000
Telephone & Internet Expense ( Sales ) 17,000
Depreciation Expense ( Sales Equipment ) 36,000
Salaries & Wages Expense ( Sales ) 284,000 636,000
Administrative & General Expense
Accounting & Legal Services 33,000
Insurance Expense 24,000
Depreciation Expense ( Office Equipment) 48,000
Salaries & Wages Expense ( Office ) 346,000
Utilities Expense 32,000
Miscellaneous Office Expense 8,000 491,000

Rent Revenue 240,000


510,000

Interest Expense 176,000


334,000
Income Tax 100,200
233,800

Loss on Sale of Division 60,000


Applicable Income Tax 18,000 42,000
191,800

Earnings Per Share 2:13


Bryant PLC
Income Statement
For The Year Ended December 31, 2019
Sales Revenue
Cost of Goods Sold
Gross Profit
Operating Expense
Net Income
Unrealized Holding Gain, Net of Tax
Comperhensive Income

Bryant PLC
Statement of Changes in Eq
For The Year Ended December

Beginning Balance
Net Income
Dividents
Other Comperhensive
Income
Unrealized Holding Gain,
Net of Tax
Ending Balance
1, 2019
750,000
500,000
250,000
80,000
170,000
50,000
120,000

Bryant PLC
Statement of Changes in Equity
For The Year Ended December 31, 2019
Accumulated Other
Total Retained Earnings
Comperhensive Income
520,000 90,000 80,000
170,000 170,000
10,000 10,000

50,000 50,000
630,000 250,000 30,000
Share Capital - Ordinary

350,000

350,000

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