Question
need help with all three parts Income statement.Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc., . Note:Use a
need help with all three parts
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%.
Part 1
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 | $ | 917,273 | $ | 946,150 | $ |
|
Cost of goods sold | $ |
| $ | -669,291 | $ | -656,152 |
Gross profit | $ | 169,333 | $ |
| $ | 315,099 |
Selling, general, and administrative expenses | $ | -70,484 | $ |
| $ | -193,014 |
Research and development | $ | -5,416 | $ | -7,134 | $ | -3,452 |
Depreciation | $ |
| $ | -34,505 | $ | -35,624 |
Operating income | $ | 60,522 | $ | 81,390 | $ |
|
Other income | $ | 503 | $ |
| $ | 1,713 |
EBIT | $ |
| $ | 82,403 | $ | 84,722 |
Interest expense | $ | -6,717 | $ |
| $ | -8,793 |
Income before tax | $ |
| $ | 74,831 | $ | 75,929 |
Taxes | $ | -20,366 | $ | -28,062 | $ |
|
Net income | $ |
| $ | 46,769 | $ | 47,456 |
Shares outstanding |
| 16,737,000 | $ |
|
| 16,737,000 |
Earnings per share | $ | 2.03 | $ | 2.79 | $ |
|
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