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GROUP 1 P1-1

GROUP 1 P1-1. Nairi P. Southyda S. Anida M. Luke L. Alex S. Revenues Total Revenues Expenses Total Expenses Pretax income Income tax expense Net income. 155,000 104,100 50,900 15,270 $35,630.

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GROUP 1 P1-1

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  1. GROUP 1P1-1 Nairi P. Southyda S. Anida M. Luke L. Alex S.

  2. Revenues Total Revenues Expenses Total Expenses Pretax income Income tax expense Net income 155,000 104,100 50,900 15,270 $35,630 Propane CompanyIncome StatementFor the Year Ended December 31, 2006(in thousands of dollars)

  3. Beginning retained earnings, Jan. 1, 2006 Net income for 2006 Dividends for 2006 Retained earnings, December31, 2006 $0 35,630 10,000 25,630 Propane CompanyStatement of Retained EarningsFor the Year Ended December 31,2007(in thousands of dollars)

  4. Assets Cash Accounts Receivables Inventories Equipment Total Assets Liabilities Accounts Payable Other Liabilities Total Liabilities Stockholders’ Equity Contributed Capitol Retained earnings Total Stockholders’ equity Total liabilities and stockholders’ equity 20,000 12,000 90,000 45,000 167,000 52,370 2,000 54,370 87,000 25,630 112,630 167,000 Propane CompanyStatement of Cash FlowsFor the Year Ended December 31, 2006(in thousands of dollars)

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