P4-1DICKINSON COMPANYIncome Statementfor the year ended in December 31, 2014ParticularsAmountSales$ 25,000,000.00On the income statement you must subract sales from cost of goods sold and you come up withCost of goods sold$ (16,000,000.00)9,000,000. Then you take the 9,000,000 from the selling & Administrative Expense which gives you you income from operation of 4,300,000. Now you add gain on slaes of investment withGross Profit$ 9,000,000.00interest revenue which come out to 180,000. You have your other expenses write off goodwillSelling & Administrative Expenses$ (4,700,000.00)which is 820,000 you add that with you income from continuing operation before incometax of 3,660,000 then subtrack income tax of 1,244,000, that will give you 2,416,000. NowIncome from operations$ 4,300,000.00with discontinue operation you would add loss on disposal net of tax with loss of operations,net of tax which is 440,000 and 90,000 that brings you 530,000 now you subract 2,416,000 fromOther revenues & gains:530,000 and you get 1,886,000 that is your income before extraordinary items, subtract extraordinary Gain on sales of investments$ 110,000.00item, loss from flood damage, net of tax. You subtract 390,000 and you net incom 1,496,000Interest revenue$ 70,000.00$ 180,000.00Other expenses & losses:Write-off goodwill$ 820,000.00Income from continuing operations before income tax$ 3,660,000.00Income Tax$ (1,244,000.00)Income from continuing operations$ 2,416,000.00Discontinued Operations:Loss on disposal, net of tax$ 440,000.00Loss of operations, net of tax$ 90,000.00$ 530,000.00Income before Extraordinary items$ 1,886,000.00Extraordinary item, loss from flood damage, net of tax$ (390,000.00)Net Income$ 1,496,000.00Earnings per share:Income from continuing operations$ 4.67Discontinued operations:Loss on disposal, net of tax$ (0.88)Loss of operations, net of tax$ (0.18)$ (1.06)Income before extraordinary item$ 3.61Extraordinary loss, net of tax$ (0.78)Net Income$ 2.83Dickinson CompanyRetained Earnings Statement For the year ended January 1, 2014ParticularsAmountRetained Earnings, January 1$ 980,000.00Net Income$ 1,496,000.00Dividends:Common Stock$ 250,000.00Preferred Stock$ 80,000.00$ 330,000.00Reatined Earnings, December 31$ 2,146,000.002,416,000-80,000/500,000=4.671,886,000-80,000/500,000=3.611,496,000-80,000/500,000=2.83 E4-13EShiga Naoya CorporationIncome Statement31-Dec-14net incomeIncome from continuing operation before taxes23,650,000Income tax 23,650,000*35%8,277,500Income from continuing operation15,372,500Discount operation (loss before taxes)3,225,000Less income tax 3,225,000*35%1,128,7502,096,250net income13,276,250Perferred dividends declared1,075,000Common share outstanding4,000,000Earning Per ShareIncome from continuing operations15,372,500 - $ 1,075,000/4,000,0003.57Discontinued operations, net of tax2,096,250/4,000,0000.52net income13,276,250 - $1,075,000/4,000,0003.05When doing an i.