 |  Intermediate Accounting: Subtitle Test, 2/e J David Spiceland,
University of Memphis
James F Sepe,
Santa Clara University
Lawrence A Tomassini,
Ohio State University
The Income Statement and Statement of Cash Flows
Check Figures|
E3-1 |
Req. 1, Net income, $235,000
Req. 2, Operating income, $295,000 | |
E3-2 |
Req. 1, Total expenses and losses, $2,149,680 | |
E3-3 |
Income before extraordinary item and cumulative effect, $161,000 | |
E3-4 |
Net income per share, $1.08 | |
E3-5 |
Loss on disposal, $258,000 | |
E3-6 |
Net income, $390,000 | |
E3-7 |
Req. 1, Loss on disposal, $90,000 | |
E3-8 |
Req. 3, New annual depreciation, $80,000 | |
E3-9 |
Req. 1, change in accounting principle | |
E3-10 |
Net income per share, $6.30 | |
E3-11 |
3. a | |
E3-12 |
9. d | |
E3-13 |
Net increase in cash, $181,000 | |
E3-14 |
Req. 2, Net cash outflows from operating activities, $16,000 | |
E3-15 |
3. b | |
E3-16 |
7. k | |
P3-1 |
Income from continuing operations, $1,860,000 | |
P3-2 |
2000 Net income, $57,000 | |
P3-3 |
Req. 2, 2000 gain on disposal, $210,000 | |
P3-4 |
Situation 3, $(100,000) | |
P3-5 |
Req. 1, Net income, $1,085,000 | |
P3-6 |
Increase in cash, $205,000 | |
P3-7 |
None | |
P3-8 |
Net income per share, $4.05 | |
P3-9 |
Income from continuing operations, $2,835,000 |
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2001 McGraw-Hill Higher Education