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notes: There are 100,000 shares of common stock stock No other income or Expense items exist No non operating items exist. these are the required
notes: There are 100,000 shares of common stock stock No other income or Expense items exist No non operating items exist.
these are the required format for the question.
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Sales 1,200,000 COGS 300,000 Interest 20,000 Administrative Expenses 55,000 Advertising Expenses 12,000 Selling Expenses 65,000 Supplies 15000 Tax rate 40% Cogs 65,000 Selling exp 45,000 Admin exp 35,000 Rent from property 15,000 Interest 5,000 Tax rate 50% Flood loss 40,000 gross 100,000 shares of common Sales Cogs Gross margin 250,000 65.000 185.000 Operating exp Selling Admin Total operating 45,000 35,000 80,000 Subtotal 105,000 Other Rent from property 15.000 EBIT 120,000 Interest 5.000 EBT 115,000 III Admin Total operating 25.RU 35,000 80,000 Subtotal 105,000 Other Rent from property 15.000 EBIT 120,000 Interest 5,000 EBT 115.000 Taxes 5096 57,500 Operating income Eps 58 $7,500 Nonoperating items Flood loss (gross 40,000) (net of tax 20,000) Eps 20 20,000 Net income Eps.38 37,500Step by Step Solution
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