Look at these numbers. Am I correct in my understanding that if they show a loss figure under retained earnings, that it can be applied against future positive income until it runs out?
They paid no income tax on the $1.3m they earned this quarter. Is that because of the retained earnings they are showing on their balance sheet?
Income Before Tax $1,325,618 $1,627,627 $1,001,942 $2,711,723
Income Tax Expense N/A N/A N/A N/A
Equity Earnings Or Loss Unconsolidated Subsidiary N/A N/A N/A N/A
Minority Interest N/A N/A N/A N/A
Net Income From Continuing Operations $1,325,618 $1,627,627 $1,001,942 $2,711,723
Retained Earnings ($53,422,502) ($54,748,120) ($56,375,747) ($57,377,689)
http://biz.yahoo.com/fin/l/r/rate_qb.html
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