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Income Statement Year Ending December 31, 2023 Sales Revenue $6,075,000 Less: Cost of Goods Sold -4,000,200 Gross Profit $2,074,800 Less: Operating Expenses Selling Expense $650,000
Income Statement Year Ending December 31, 2023 | ||
Sales Revenue | $6,075,000 | |
Less: Cost of Goods Sold | -4,000,200 | |
Gross Profit | $2,074,800 | |
Less: Operating Expenses | ||
Selling Expense | $650,000 | |
General and Administrative | $326,000 | |
Lease payments | $ 50,000 | |
Depreciation | $152,000 | |
Total Operating Expenses | $1,178,000 | |
Operating Profit | $ 896,800 | |
Less: Interest Expenses | - 99,500 | |
Net profit before taxes | $ 797,300 | |
Less: Taxes | $ 318,920 | |
Net Profit after taxes | $ 478,380 | |
Earnings per share: $4.78 Dividends per share: $4.60 |