Question
Need an expert in accounting to lay out an extensive sample income statement with all major and minor sections and line items labeled. Please ensure
Need an expert in accounting to lay out an extensive "sample" income statement with all major and minor sections and line items labeled. Please ensure the following are included: sales, Cost of Goods Sold, SG&A expenses, operating income, profit, gross margin, EBIT, EBITDA, pre-tax income, interest expense, depreciation expense, non operating expenses and income, income tax expense, earnings (NI) before continuing operations, net income attributable, Net Income. Basically, I need to see where these specific line items fall within the income statement and how they are calculated (i.e. what is added or subtracted to arrive at these numbers). Maybe some of these items are actually the same thing (but just referred to by many different names?). If they are the same things, please list both names on that line so I can see they actually are the same things. I am most confused by EBIT, operating profit, pre-tax income, operations income and how they differ and where income taxes, interest expense, and depreciation fall on the income statement in relation to those terms. It's confusing and seeing it on a fully detailed sample income statement will help me better understand. Thank you.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started