Question
Income statement. Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc. Note: Use a tax rate of 37.5 %.
Income statement. Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc. Note: Use a tax rate of 37.5 %.
Complete the table below: (Round the income statement accounts to the nearest thousand dollars and the earnings per share to the nearest cent. Also, use parentheses or a minus sign for numbers to be subtracted.)
Barron Pizza, Inc. | ||||||
Abbreviated Income Statements for the Years Ending 2012-2014 | ||||||
($ in thousands, except earnings per share) | ||||||
Year Ending | Year Ending | Year Ending | ||||
Account | 2014 | 2013 | 2012 | |||
Revenue | $ | 917,264 | $ | 946,127 | $ | Answer Here |
Cost of goods sold | $ | $ | -669,388 | $ | -656,165 | |
Gross profit | $ | 169,442 | $ | $ | 314,955 | |
Selling, general, and administrative expenses | $ | -70,596 | $ | $ | -192,925 | |
Research and development | $ | -5,338 | $ | -7,080 | $ | -3,507 |
Depreciation | $ | $ | -34,454 | $ | -35,704 | |
Operating income | $ | 60,516 | $ | 81,427 | $ | Answer Here |
Other income | $ | 679 | $ | $ | 1,842 | |
EBIT | $ | $ | 82,413 | $ | 84,661 | |
Interest expense | $ | -6,743 | $ | $ | -8,708 | |
Income before tax | $ | $ | 74,773 | $ | 75,953 | |
Taxes | $ | -20,420 | $ | -28,040 | $ | Answer Here |
Net income | $ | $ | 46,733 | $ | 47,471 | |
Shares outstanding | 16,748,000 | $ | 16,748,000 | |||
Earnings per share | $ | 2.03 | $ | 2.79 | $ | Answer Here |
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