Slotnick Company sells, rents, and services ski equipment. Information about the company's financial performance for a recent
Question:
Slotnick Company sells, rents, and services ski equipment. Information about the company's financial performance for a recent fiscal period is provided below.
Average shares outstanding ............ 20,000
Cost of goods sold ................$34,000
Debt outstanding ................ 65,000
General and administrative expenses ......... 12,000
Income tax expense .............. 20,000
Interest expense ................. 8,000
Payments to owners .............. 30,000
Rental revenue ................ 45,000
Sales revenue .................. 79,000
Selling expense .................. 27,000
Service revenue ................. 23,000
From the information provided, compute the following amounts for the period:
a. Gross profit
b. Operating expenses
c. Income from operations
d. Pretax income
e. Net income
f. Earnings per share
Step by Step Answer:
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright