Generally Accepted Accounting Principles, Financial statements, Income statement

On October 17, 1989, a Richter scale earthquake caused significant amounts of monetary damage to the San Francisco Bay area. As such, our Emporium division suffered extensive damage twelve of the twenty-two stores were closed for varying periods of time, with the Oakland store hardest hit. In total, uninsured damage was 27.5 million (16.5 million after tax benefits).