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fill in the missing values for the income statement below. Please provide an explanation for your solution Fill in the missing values for the income
fill in the missing values for the income statement below. Please provide an explanation for your solution
Fill in the missing values for the income statement below given the following information: Gross margin is 33% Net Margin is 10% Manufacturing Overhead is 10% of Direct Materials Cost Tax rate is 20% $ 110,000 43,795 Tesla, Inc Income Statement (10-0) Six Months Ended June 30, 2019 (in millions) Sales revenue Less: Cost of goods sold Direct materials $ Direct labor Manufacturing overhead Total cost of goods sold Gross profit Less: Operating expenses Research and Development $ General and administrative expenses Restructuring and Other $ Total operating expenses Earnings before interest and taxes Interest expense Income before income taxes Income tax expense NET INCOME 6,820 4,000 $ 1,500
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