Data Table Sales $4,450,000 Less: Cost of goods sold Gross profit (3,496,000) $954,000 Less: Operating expenses...

Transcribed Image Text:

Data Table Sales $4,450,000 Less: Cost of goods sold Gross profit (3,496,000) $954,000 Less: Operating expenses (494,000) Net operating income $460,000 Less: Interest expense (100,000) Earnings before taxes $360,000 Less: Taxes (35%) (126,000) Net income $234,000 Print Done Data Table Current assets Net fixed assets Total Assets $2,024,000 Total $502,000 Liabilities $1,012,000 1,522,000 Owners' equity 1,012,000 $2,024,000 Print Done - X Data Table Sales $4,450,000 Less: Cost of goods sold Gross profit (3,496,000) $954,000 Less: Operating expenses (494,000) Net operating income $460,000 Less: Interest expense (100,000) Earnings before taxes $360,000 Less: Taxes (35%) (126,000) Net income $234,000 Print Done Data Table Current assets Net fixed assets Total Assets $2,024,000 Total $502,000 Liabilities $1,012,000 1,522,000 Owners' equity 1,012,000 $2,024,000 Print Done - X