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2) Reliable Auto Parts has 5,000 shares of common stock outstanding. The company also has the following amounts in revenue and expense accounts. Sales revenue

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2) Reliable Auto Parts has 5,000 shares of common stock outstanding. The company also has the following amounts in revenue and expense accounts. Sales revenue General and administrative expense Interest expense Depreciation expense Preferred stock dividends Selling expense Cost of goods sold $85,000 7,500 3,500 5,000 500 4,000 50,000 w Calculate (a) gross profits (b) operating profits (c) net profits before taxes (d) net profits after taxes (assume a 40 percent tax rate), (e) earnings available to common stockholders (1) earings per share

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