Brown Safety 2001 Annual Income Statement

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Brown Safety* - 2001 Annual Income Statement

Segment 2 - Applying What We've Learned - Investing Lesson 4 - Analyzing an Income Statement

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Brown Safety* [a fictional company], is the manufacturer of safety products such as chemical goggles, fire extinguishers, safety ropes, and scaffolding for construction jobs. In 2001, the company reported record EPS of $2.79, up from just $0.03 the year before.

Brown Safety Consolidated Statements of Income *(Thousands except per share amounts)*
*Fiscal year ended*	2001	2000	1999
Net Sales	$5,000	$10,000	$20,000
Cost of Goods Sold, Occupancy and Buying Costs	2,500	5,000	10,000
Gross Income	2,500	5,000	10,000
General, Administrative and Store Operating Expense	1,000	1,000	1,000
Operating Income	1,500	4,000	9,000
Interest Income, Net	0	0	0
Income from Continuing Operations Before Income Taxes	1,500	4,000	9,000
Investment Income	$350,000	0	0
Provision for Income Taxes	70,510	600	1,350
Net Income	$279,490	3,400	7,650
Net Income Per Share:
Basic	$2.79	$0.03	$0.08
Diluted	$2.79	$0.03	$0.08

The accompanying Notes are an integral part of these Consolidated Financial Statements
100,000 shares outstanding

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Joshua Kennon
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