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Accounting income statements question: ABC Corporation is a multinational company operating in various sectors. For the fiscal year ending December 31, 2022, the company recorded
Accounting income statements question:
ABC Corporation is a multinational company operating in various sectors. For the fiscal year ending December 31, 2022, the company recorded the following information for its income statement:
- Total Sales Revenue: $5,000,000
- Cost of Goods Sold: $2,800,000
- Gross Profit: ?
- Selling, General, and Administrative Expenses: $1,200,000
- Research and Development Expenses: $300,000
- Operating Income: ?
- Interest Income: $50,000
- Interest Expenses: $100,000
- Other Income: $20,000
- Other Expenses: $10,000
- Income Before Income Tax: ?
- Income Tax Expense: $500,000
- Net Income: ?
Additionally, the company had 500,000 shares outstanding during the entire fiscal year. The company's preferred dividend obligation was $40,000.
Calculate the following:
- Gross Profit
- Operating Income
- Income Before Income Tax
- Earnings Per Share (EPS)
- Net Income
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