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Application Problem 4-8A The statement of income for DiTuri Manufacturing Inc. for the years 2018 to 2020 is presented below. Calculate the missing amounts on
Application Problem 4-8A The statement of income for DiTuri Manufacturing Inc. for the years 2018 to 2020 is presented below. Calculate the missing amounts on the statement of income. DITURI MANUFACTURING INC. Statement of Income (in thousands of dollars) 2020 2019 2018 Sales Revenue $1,351 $1,114 $ Cost of goods sold 954 Gross margin 683 442 Operating Expenses Store expenses 138 112 Administrative expenses 132 108 89 Depreciation expense 109 100 251 Operating income 276 140 Investment income 13 Financing expenses 18 Earnings before income taxes 263 139 Income tax expense 48 28 Net earnings $210 $193 LA 22
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