Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the answer is supposed to be in schedule format PAS. LO 9.4 Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered

image text in transcribed
the answer is supposed to be in schedule format
PAS. LO 9.4 Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. A. In the correct format, prepare the income statement using the following information: B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $100,000 and 6% cost of capital. C. Prepare a short response to accompany the income statement that explains why uncontrollable costs are included in the income statement $2,035 41,580 189,000 315 17,000 Pretax income Gross profit Allocated costs (uncontrollable) Labor expense Sales Research and development (uncontrollable) Depreciation expense Net income/(loss) Cost of goods sold Selling expense Total expenses Marketing costs (uncontrollable) Administrative expense Income tax expense (21% of pretax income) Other expenses 119,070 1,250 ? 790 690 320

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

305 mg of C6H12O6 in 55.2 mL of solution whats the molarity

Answered: 1 week ago

Question

What advice would you provide to Jennifer?

Answered: 1 week ago

Question

What are the issues of concern for each of the affected parties?

Answered: 1 week ago