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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 $52,000 55,000 60,000 Cost of Goods Sold $18, 200 44,000 Operating Expenses $ 6,000 13,000 4,000 Non-operating Expenses $3,000 8,000 0 Income Tax Expense $3,000 0 4,000 43,200 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 $ 0 Henry Grace 0 James 0
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