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Armad Inc.'s financial accounts contained the following amounts for the period ending September 30, 2013. Prepare an income statement for the year ended September 30,
Armad Inc.'s financial accounts contained the following amounts for the period ending September 30, 2013. Prepare an income statement for the year ended September 30, 2013. Assume the tax rate is 35%.
Line Item | Amount |
Cost of Goods Sold | $1,133,550 |
Gain on Sale of Capital Assets | $5,700 |
Operating Expenses | $360,400 |
Operating Income from Discontinued Operations | $148,100 |
Sales Revenue | $2,519,000 |
Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. Use the negative sign for negative values AND items that must be subtracted. Prepare an income statement for the year ended September 30, 2013.
Armad Inc. | ||
Income Statement | ||
For the Year Ended September 30, 2013 | ||
Revenues | ||
Sales Revenue | Answer | |
Cost of Goods Sold | Answer | |
Gross Profit | Answer | |
Operating Expenses | Answer | |
Operating Income | Answer | |
Other Revenue and Expenses | ||
Gain on Sale of Capital Assets | Answer | |
Income before Tax | Answer | |
Less: Income Tax Expense | Answer | |
Income from Continuing Operations | Answer | |
Discontinued Operations | ||
Operating Income | Answer | |
Less: Income Tax Expense | Answer | Answer |
Net Income | Answer |
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