Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Income statement.Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc., LOADING... . Note:Use a tax rate of 37.5%. Complete

Income statement.Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc.,

LOADING...

. 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

$

917,215

$

946,269

$

Cost of goods sold

$

$

-669,375

$

-656,242

Gross profit

$

169,321

$

$

315,041

Selling, general, and administrative expenses

$

-70,434

$

$

-192,929

Research and development

$

-5,421

$

-7,118

$

-3,485

Depreciation

$

$

-34,518

$

-35,700

Operating income

$

60,475

$

81,420

$

Other income

$

562

$

$

1,779

EBIT

$

$

82,481

$

84,706

Interest expense

$

-6,720

$

$

-8,709

Income before tax

$

$

74,849

$

75,997

Taxes

$

-20,369

$

-28,068

$

Net income

$

$

46,781

$

47,498

Shares outstanding

16,745,000

$

16,745,000

Earnings per share

$

2.03

$

2.79

$

Enter any number in the edit fields and then click Check Answer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Study In Public Finance

Authors: A. C. Pigou

1st Edition

1443722766, 978-1443722766

More Books

Students also viewed these Finance questions