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The following information is provided for PG&E, a utility company that operates in California. (Gross) Sales $1,000,000 Rent expense 5,000 Restructuring expense 12,000 Sales returns
The following information is provided for PG&E, a utility company that operates in California. (Gross) Sales $1,000,000 Rent expense 5,000 Restructuring expense 12,000 Sales returns 50,000 Interest revenues 1,000 Warranty expense 5,000 Interest expense 18,000 Loss contingency from wildfires 1,000 Income tax expense 30,000 Dividends paid 8,000 Discount forfeited 10,000 Salary expense 20,000 Depreciation expense 30,000 Cost of goods sold 300,000 Determine gross profit, operating income, and net income
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