Income Statement

For the year of: Year 2

Sales $2,400,000

Cost of Sales $ 720,000

Gross Profit XXXXXXX

Payroll Expenses $ 600,000

Gen. & Admin. Exp. $ 288,000

Other Expenses $ 225,000

EBIT $ (19)

Interest $ 15,000

EBT $ (20)

Income Taxes (40%) $ (21)

Net Income $ (22)

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Balance Sheets

On December 31 of

Year 1 Year 2

Total Assets: $1,400,000 $_____(23)

Curr. Liability $ 100,000 $ 120,000

L/T Liability $ 300,000 $ 480,000

Owners Equity (24) $1,000,000

1. Determine the amount of (19) above.

2. Determine the amount of (20) above.

3. Determine the amount of (21) above.

4. Determine the amount of (22) above.

5. Determine the amount of (23) above.

6. Determine the amount of (24) above.

7. Determine the company's ROI.