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Required information [The following information applies to the questions displayed below.] Below are amounts found in the income statements of three companies. Company Henry Grace
Required information [The following information applies to the questions displayed below.] Below are amounts found in the income statements of three companies. Company Henry Grace James Sales Revenue $18,000 21,000 26,000 Cost of Goods Sold $ 4,500 14,700 16, 120 Operating Expenses $4,300 7,300 2,300 Non-operating Expenses $1,300 3,300 0 Income Tax Expense $1,300 0 2,300 Required: 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. (Negative amounts should be indicated by a minus sign.) Gross Profit Operating Income Income Before Income taxes Net Income / Loss Henry Grace James
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