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Income before income taxes and equity in net earnings of affiliate
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$160,000
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Income taxes
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64,000
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Income before equity in net earnings of affiliate
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96,000
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Equity in net earnings of affiliate
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39,000
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Net income
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$135,000
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Presentation |
Additional considerations |
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Earnings of non-taxable investees
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In operating profit
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The SEC staff has indicated that presenting equity method earnings from an investee within the operating income section of the investor's income statement is acceptable in very limited circumstances.
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Before tax provision line item
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For a non-taxable investee, there is no difference between gross or net of tax presentation as the investee is not taxed.
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Below tax provision line item
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The investor's income tax provision line would include any income tax levied against the investor for its share of the investee's results.
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Earnings of taxable investees ("net of tax" presentation)
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In operating profit
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The SEC staff has indicated that presenting equity method earnings from an investee within the operating income section of the investor's income statement is acceptable in very limited circumstances.
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Below tax provision line item
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The investor's income tax provision line would include any income tax levied against the investor for its share of the investee's results.
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FSP Corp Statement of Changes in Stockholders' Equity Year ended December 31, 20X1 |
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Common stock $0.01 par value |
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Shares |
Amount |
Additional paid-in capital |
Retained earnings |
Total stockholders' equity |
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Balance at December 31, 20X0
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1,000,000
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$10,000
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$20,546,987
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$5,000,000
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$25,556,987
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Issuance of common stock
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200,000
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2,000
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1,999,800
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—
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2,001,800
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Net income
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238,000
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238,000
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Cumulative effect charge resulting from an accounting change at equity method investee
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(20,000)
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(20,000)
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Balance at December 31, 20X1
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1,200,000
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$12,000
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$22,546,787
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$5,218,000
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$27,776,787
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PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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