Question
The owner of a bicycle repair shop forecasts revenues of $180,000 a year. Variable costs will be $55,000, and rental costs for the shop are
The owner of a bicycle repair shop forecasts revenues of $180,000 a year. Variable costs will be $55,000, and rental costs for the shop are $35,000 a year. Depreciation on the repair tools will be $15,000. Prepare an income statement for the shop based on these estimates. The tax rate is 30%. (Input all amounts as positive values.)
| INCOME STATEMENT | |
| (Click to select)Rental costsDepreciationRevenueVariable costsPretax profit | $ |
| Rental costs | |
| (Click to select)DepreciationVariable costsRevenuePretax profit | |
| (Click to select)DepreciationVariable costsPretax profitRevenue | |
| (Click to select)RevenueRental costsVariable costsPretax profitDepreciation | |
| (Click to select)RevenueRental costsTaxesDepreciationPretax profit | |
| (Click to select)Net incomeNet loss | $ |
|
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Accounting A Pathway Into The World Of Business And Data Analytics
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
29th Edition
0357899644, 9780357899649
