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Please, help with part C (The firm's additions to retained earnings). You are a summet intem at the office of a local tax proparer. To
Please, help with part C (The firm's additions to retained earnings).
You are a summet intem at the office of a local tax proparer. To test your bssic knewiedge of financial statements, your manager pives you the fowowing a simple income statement using those acocunts. a. Acrange the accounts into a well-labeled income stalement Makn sure you label and tove for gross profts, operating profits, and net profits before taxes. b. Ueing a 21% tax rate, calculate taxes paid and net grofics afier taxes. c. Aspaming a divdend of 51.04 per share weth 4.31 milion shares outstanding. calculate EPS and additions to retained earnings. a. Complete the income statement, down to the net profis before taxes ine, below (Select the account nanes from the arop-down monus and round the amocints to two decimal placei). b. Corplete the income statement, from ve net profis before taces ine to the net profis affer taxat line, below (Round to two decimal places. You are a summer interr at the office of a local iax preparer. To teak your basic knowledge af financial statertsonts your manager glves you the following list of accounts and asks you to propare a simple ineome stakement using those accounts. a. Artange the accounts into a well-labeled inoorne stakement Make sure you label and solve for gross profits, oporating profits, and net profta belore taxes b. Using a 21 N tax rate, calculate twwes paid and net profits affer tomes. c. Assuming a dividend of $1.04 per share with 4.31 milion shares outsanding, catculate EPS and additions to matained eamingt: b. Complete the income statement, from the net profits belere taxes line to the net profts after taxes line, telow: (Round to two decimal placesi) 6. The firmis EPS is 5 (Round to the nearest cent.) The firm's edditions to retained eamings are s . Inllion (Round to two decimal places Step by Step Solution
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