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Income Statement 6 Data Table A set of financial statements for Stingray Company follows (Click to view the financial statements.) Requirement Fill in the missing
Income Statement 6 Data Table A set of financial statements for Stingray Company follows (Click to view the financial statements.) Requirement Fill in the missing amounts (indicated with question marks). Sales Cost of goods sold Gross profit on sales Administrative expenses Operating income Interest expense Income tax expense . Net income 725,000 Requirement 1. Fill in the missing amounts. Begin by completing the income statement. 475,000 Stingray Company Income Statement For the Year Ended December 31, 2012 50,000 10,000 145,250 725,000 Sales Cost of goods sold Gross profit on sales Administrative expenses Operating income Interest expense Income tax expense Net income 475,000 50,000 Stingray Company Balance Sheet At December 31, 2012 10,000 145,250 Cash Accounts receivable Inventory Equipment. .. $? Accounts payable12,500 10,400 13,500 Note payable 49,000 .978,000 Contributed capital 700,000 Retained earnings $ 1,160,500 Total__. Total Print Done
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