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Please answer Supply the missing dollar amounts for the current year income statement of NexTech Company for each of the following independent cases. (Input all
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Supply the missing dollar amounts for the current year income statement of NexTech Company for each of the following independent cases. (Input all amounts as positive values.) Case D Case E Case A $ 920 Case B $ 810 320 Case C $ 590 Sales revenue Cost of goods sold 540 350 Gross margin 465 410 140 95 380 230 Selling expense Administrative expense 140 T 100 120 110 Pretax income 205 200 170 Income tax expense 40 65 35 40 65 Net income 155 The following data were taken from the records of Township Corporation at December 31 of the current year: Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income tax rate Shares of stock outstanding $ 94,000 36,000 5,900 ? 12,200 35% 2,800 Required: 1. Prepare a complete classified (multiple-step) income statement for the company (showing both gross profit and income from operations). (Round "Earnings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement Operating expenses: Total operating expenses Earnings per share Prepare journal entries for each transaction listed below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Sales on account were $720 and related cost of goods sold was $410. b. Issued 8,000 shares of $1 par value stock for $70,000 cash. View transaction list Journal entry worksheetStep by Step Solution
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