Question
The income statement for Vermont Communications follows. Assume Vermont Communications signed a 3-month, 12%, $100,000 note on June 1, 2018, and that this was
The income statement for Vermont Communications follows. Assume Vermont Communications signed a 3-month, 12%, $100,000 note on June 1, 2018, and that this was the only note payable for the company. (Click the icon to view the income statement.) Requirements 1. Fill in the missing information for Vermont's year ended July 31, 2018, income statement. Round to the nearest dollar. 2. Compute the times-interest-earned ratio for the company. Round to two decimals. Requirement 1. Fill in the missing information for Vermont's year ended July 31, 2018, income statement. Round to the nearest dollar. (Use a 12-month year for interest computations. Use a minus sign or parentheses to enter other expenses.) Vermont Communications Income Statement Year Ended July 31, 2018 $ 35,000 (13,000) 22,000 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Not Income before Income Tax Expense Income Tax Expense Enter any number in the edit fields and then click Check Answar S 750 1,600 (2,350) 19,650 (3,530)
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