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Can you help me finish this income statement? Exercise 12-32 Segmented Income Statement; TV Cable Company (LO 12-5) Countywide Cable Services, Inc., is organized with
Can you help me finish this income statement?
Exercise 12-32 Segmented Income Statement; TV Cable Company (LO 12-5) Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying Data for these segments for the year just ended follow Metro Suburban Outlying Service revenue $1,000,000 $800,000 $400,000 Variable expenses 200,000 150,000 100,000 Controllable fixed expenses 400,000 320,000 150,000 Fixed expenses controllable by others 230,000 200,000 90,000 In addition to the expenses listed above, the company has $95,000 of common fixed expenses. Income tax expense for the year is $145,000 Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc. Answer is not complete. SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. Segments of Company Countywide Metro Suburban Outlying Cable Services S 0 5 0 $ 0 s 0 S 0 IS 0 S 0 S 0 Service revenue Variable expenses Segment contribution margin Less: Fixed expenses controllable by segment manager Profit margin controllable by segment manager Less Fixed expenses, traceable to segment, but controllable by others Profit margin traceable to segment Less Common foxed expenses Income before taxes Less: Income tax expense Net income IS 0 IS 0 $ 0 S 0 IS 0 OOOO S 0 Step by Step Solution
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