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At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,522,000 in revenues, $3,362,000 in cost of goods sold, $458,000
At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,522,000 in revenues, $3,362,000 in cost of goods sold, $458,000 in operating expenses which included depreciation expense of $140,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $52,000 of its earnings back into the firm. What does this plan leave for the payment of a cash dividend to Sandifer's stockholders? Complete the income statement for Sandifer Manufacturing Co.: (Round to the nearest dollar.) Revenues = $ 4,522,000 Less: Cost of Goods Sold = $ 3,362,000 Equals: Gross Profit = Less: Operating Expenses Equals: Net Operating Income = $ Less: Interest Expense = $ 0 Equals: Earnings before Taxes = Less: Income Taxes = $ Equals: Net Income = $
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