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A set of financial statements for Toad Company follows: E: (Click to view the financial statements.) Requirement Fill in the missing amounts (indicated with question

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A set of financial statements for Toad Company follows: E: (Click to view the financial statements.) Requirement Fill in the missing amounts (indicated with question marks). Operating income ....... Interest expense ........ 9,000 134,400 Requirement 1. Fill in the missing amounts. Begin by completing the in Income tax expense expense..... ? Net income Toad Company Income Statement For the Year Ended December 31, 2012 Toad Company Balance Sheet At December 31, 2012 700,000 Cash Sales Cost of goods sold ...... Gross profit on sales ..... Administrative expenses Operating income ..... Interest expense ........ 400,000 55,000 13,700 8,800 Accounts receivable Inventory Equipment $ ? Accounts payable ... $ 12,500 Note payable ...... 47,000 965,000 Contributed capital .. Retained earnings 1,124,500 ,500 Total 690,000 9,000 134,400 Income tax expense $ Net income Total ....... Enter any number in the edit fields and then click Check Answer. Print Done part remaining Clear All

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