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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:

  1. Gross Profit
  2. Operating Income
  3. Income Before Income Tax
  4. Earnings Per Share (EPS)
  5. Net Income

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