Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Asking if this correct and includes what it needs for an Income Statement, the information I used is on the right. Thank you! A1 X

Asking if this correct and includes what it needs for an Income Statement, the information I used is on the right. Thank you!

image text in transcribed

A1 X & Income Statement Jigsaw Management 2018 D F For Year 2018 $199,000 $29,200 as of 12/31 $14,100 $33,200 $166,100 as of 12/31 1 Income Statement ligsaw Management 2018 2 Total Net Sales/Annual Net Sales $550,000.00 3 Cost of Goods $199,000.00 4 Gross Profit/Gross Income $351.400.00 5 6 Operating Expenses: 7 Selling General and Administrative Expenses $ 33,200.00 8 Depreciation $ 42,000.00 9 Total Operating Expenses $75,200.00 10 Operating income $276,200.00 11 Other Income 12 13 Earnings before Income and Taxes $276,200.00 14 Interest Expenses $ 14,100.00 15 Pretax income $262,100.00 16 Taxes Current @ 40% (Deferred) $104,840.00 17 18 Net Income $157,206.00 19 Addition to retained earnings 20 Dividends $39,301.50 21 Retained Earnings $117.904.50 22 Income Statement 2018 Income Statement 2019 Cost of Goods Sold Cash Interest Paid Selling & Gen Admin Expenses Fixed Assets net of Depreciation fi.e., Net Fixed Assets) Annual Net Sales Annual Depreciation Accounts Receivable Accounts Payable Notes Payable Inventory Long term Debt New Equity Dividend Payout Percentage Is a haitamil Tax Rate Number of days in the year $550,400 $42.000 $17,300 as of 12/31 $31,800 as of 12/31 $16,400 as of 12/31 $32,000 as of 12/31 $98,400 as of 12/31 So for this year 25% 4096 365 Balance Sheet 2018 Balance Sheet 2019 ca 34 e

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Maintenance Audits Handbook A Performance Measurement Framework

Authors: Diego Galar Pascual, Uday Kumar

1st Edition

1466583916, 978-1466583917

More Books

Students also viewed these Accounting questions

Question

Solve the integration. Solve the integration.

Answered: 1 week ago