QUIZ 1 ACCT 6850 MERCURY CORPORATION INCOME STATEMENT 12 31 202X 1 SALES $ 12,000,000 2 COST OF GOODS SOLD $ 7,322,000 3 GROSS PROFIT $ GROSS MARGIN 4 SELLING ADMINISTRATIVE X $ 2,454,710 5 DEPRECIATION AMORTIZATION X $ 325,447 6 OPERATING PROFIT (EBIT) $ OPERATING MARGIN EBIT 7 INTEREST EXPENSE $ 125,000 8 EARNINGS BEFORE TAXES (EBT) $ EBT 9 TAXES $ 425,480 10 EARNINGS AFTER TAXES (EAT) (NET INCOME) $ EAT (NET INCOME) 11 PREFERRED STOCK DIVIDENDS $ 250,000 12 EARNINGS AVAILABLE TO COMMON STOCKHOLDERS (NET $ INCOME APPLICABLE TO COMMON) (NET PROFIT) (NET EARNINGS) NET PROFIT MARGIN 13 COMMON SHARES OUTSTANDING 400,000 14 EARNINGS PER SHARE (EPS) $ 1) Calculate the missing data from the spreadsheet for MERCURY Company Anytime you see a $ sign, there is a calculation to do Either subtract, or divide Also calculate the Gross Margin , Operating Margin , Earnings Before Taxes (EBT) , Earnings After Taxes (EAT)(Net Income ), and Net Profit Margin all stated as a Please fill (ANSWER) in the blank 3 Gross profit, 6 operating profit ( EBIT), 8 Earnings before taxes (EBT), 10 Earnings after before, and Net income, 12 Earnings Available to common stockholders (Net Income applicable to common) (Net Profit) (Net Earnings) 14 Earnings per share (EPS)

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 01, 2024

QUIZ#1 - ACCT 6850 MERCURY CORPORATION INCOME STATEMENT 12/31/202X % 1. SALES $ 12,000,000 % 2. COST OF GOODS SOLD $ 7,322,000 3. GROSS PROFIT

QUIZ#1 - ACCT 6850	MERCURY CORPORATION
	INCOME STATEMENT
	12/31/202X
		%
1. SALES	$ 12,000,000	%
2. COST OF GOODS SOLD	$ 7,322,000
3. GROSS PROFIT	$	%	GROSS MARGIN
4. SELLING & ADMINISTRATIVE X	$ 2,454,710
5. DEPRECIATION & AMORTIZATION X	$ 325,447
6. OPERATING PROFIT (EBIT)	$	%	OPERATING MARGIN-EBIT
7. INTEREST EXPENSE	$ 125,000
8. EARNINGS BEFORE TAXES (EBT)	$	%	EBT
9. TAXES	$ 425,480
10. EARNINGS AFTER TAXES (EAT)
(NET INCOME)	$	%	EAT (NET INCOME)
11. PREFERRED STOCK DIVIDENDS	$ 250,000
12. EARNINGS AVAILABLE TO
COMMON STOCKHOLDERS (NET	$
INCOME APPLICABLE TO COMMON)
(NET PROFIT) (NET EARNINGS)		%	NET PROFIT MARGIN
13. COMMON SHARES OUTSTANDING	400,000
14. EARNINGS PER SHARE (EPS)	$

1) Calculate the missing data from the spreadsheet for MERCURY Company. Anytime you see
a $ sign, there is a calculation to do. Either - subtract, or divide. Also calculate the Gross
Margin, Operating Margin, Earnings Before Taxes (EBT), Earnings After Taxes (EAT)(Net
Income), and Net Profit Margin - all stated as a %.

Please fill (ANSWER) in the blank. 3. Gross profit, 6. operating profit ( EBIT), 8. Earnings before taxes (EBT), 10. Earnings after before, and Net income, 12. Earnings Available to common stockholders (Net Income applicable to common) (Net Profit) (Net Earnings). 14. Earnings per share (EPS)