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please help me with detail explanation on calculation with answers. urgent! I really appreciate your kindly help Empire Labs Inc. was organized several years ago
please help me with detail explanation on calculation with answers. urgent! I really appreciate your kindly help
Empire Labs Inc. was organized several years ago to produce and market several new miracle drugs. The following data on the company are available for the past two years: 840 ooo 120,000 120,000 360 ooo 280 ooo xn nn Sales Less: Cost of goods sold Gross margin Less: Operating expenses et operating income Less: Interest expense et income before taxes Less: Income taxes (30%) et income EMPIRE LABS INC. Comparative Income Statement For the Years Ended December 31 This Year 13 ooo ooo 5 260 ooo 240 ooo 450 ooo EMPIRE LABS INC. Comparative Retained Earnings Statement For the Years Ended December 31 Retained earnings, January- I Add: Net income (above) Total Deduct: Cash dividends paid: Preferred dividends Common dividends RI dividendqna This Year 1 050 ooo 3 450 ooo Last Year 9 ooo ooo 4 560 ooo 240 ooo 360 ooo 840,000 Last Year 2 800 ooo ann nn
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