Acct 310

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Intermediate Acct


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Partial Income Statement (broken out by category

Income from Operations
Discontinued Operations
Loss from operation of discontinued restaurant division Net of Tax
Loss from disposal of restaurant division Net of Tax
Net Income/Loss
Earnings per share
Income from continuing operations
Discontinued Operations Net of Tax
Net income/loss

Earnings per share formula for income from continuing operations

Income from continuing operations - Preferred dividends / Weighted outstanding shares of common stock

Earnings Per Share - Discontinued Operations Net of tax Formula

Sum of loss from operation of discontinued division and Loss from Disposal of Division divided by average weighted shares of common stock

Net Income Formula

Income from operations + Gain on sale of plant assets - Interest Expense - Loss on discontinued operations

Comprehensive Income

Net Income + Unrealized Gain on AFS Investments

Retained earnings balance at EOY

Beginning Retained Earnings (First year of ops =0) + Net Income - Dividends

Preferred Stock

Stockholders' Equity


Intangible Asset (LT Asset)

Salaries and wages payable

current liability

Accounts Payable

Currently Liability


PP&E (LT Asset)

Equity Investment (to be sold in next year)

Current Asset

Current maturity of long-term debt

Current Liability

Premium on bonds payable

LT liability

Allowance for doubtful accounts

current asset - contra

Accounts receivable

Current Asset

Notes payable (due next year)

current liability


current asset

common stock

stockholders' equity


PP&E (LT Asset)

Bond sinking fund



current asset

prepaid insurance

current asset

bonds payable

LT liability

Income taxes payable

Current Liability

Retirement of bonds payable

Financing -

Interest paid to lenders

operating (included in net income) N/A

Increase in accounts payable

Operating +

Increase in inventory

Operating -

Purchase of long-term investment securities

investing -

Dividend revenue

operating (included in net income) N/A

Loss on sale of investment securities

operating +

Net income

Operating +

Repayments received on loan to Lannister Co.

Investing +

Issuance of common stock

Financing +

Proceeds from sale of equipment

Investing +

Gain on sale of equipment

operating -

Repurchase of common stock

Finance -

Exchange of common stock for land

N/A - Noncash N/A

Decrease in prepaid expenses

Operating +

Issuance of loan to lannister co

investing -

issuance of notes payable to bank

Financing +