Intermediate Accounting Ii

|Kay's Cleaners | | | | |

|Income Statement | | | | |

| |2012 | | | |

|Net Sales |80,000 | | | |

|Cost of Goods sold |30,000 | | | |

|Selling and Admin Expense |18,000 | | | |

|Operating Income |32,000 | | | |

|Interest Expense |1,000 | | | |

|Other non-operating income, net |500 | | | |

|Income from continuing |15,000 | | | |

|operations before income tax | | | | |

|Income tax on continuing operations |4,000 | | | |

|NET Income from continuing operations |11,000 | | | |

|NET Income from discontinued operations |1,500 | | | |

|NET INCOME |12,500 | | | |

|BASIC NET INCOME PER COMMON SHARE: | | |...