CASE $2$:

The following selected account balances were taken from the records of BANG CO for the year $2022.$

Required:

Compute for the following:

Net sales

Cost of goods sold

Gross profit

Other operating income

Selling expenses

Administrative expenses

Other operating expenses

Income from operations

Finance costs

Profit before income tax

Profit for the year

Other comprehensive income

Total comprehensive income

Assume a $30\%$ tax rate.