DE Full Income Statement Exercise Create a Full Income Statement using the Given Information Given Information Income Statement ** Net Revenues Cost of Goods Sold Gross Profit 958, 100 431,145 526,955 round to nearest dollar using excel's ROUND() functi 7 Gross Revenues 8 Returns and Allowances 9 Sales Discounts 10 COGS Ratio 11 Depreciation 12 SG&A 13 Other operating expenses 14 Misc. other income 15 Misc. other losses 16 Tax rate 17 Common Shares Authorized 18 Common Shares Issued 19 Common Shares Outstanding SG&A Expenses Depreciation Other operating expenses Operating Income Order from largest to smallest expense 985,000 5,250 21,650 45.0% 65,000 185,000 23,600 1,000 850 24.0% 100,000 75,000 71,000 185,000 65,000 23,600 273,600 | Misc. other income Misc. other losses EBIT Order from largest absolute value to smallest 1,000 850 1,850 20 28,940 refer to your calculation Interest Expense Taxable income 400,000 6.0% 21 Mortgage on Buildings 22 Interest Rate on Mortgage 23 24 Bonds Payable 25 Interest Rate on Bonds round to nearest dollar using excel's =ROUND() function Net Income 100,000 4.5% 26 round to nearest cent using excel's =ROUND() function Earnings Per Share Operating Cash Flow 1 65,000 Average Short-term debt Interest Rate on ST Debt 20,000 2.2% 27 28 29 30 31 round to nearest dollar using excel's EROUND() function Calculate Interest Expense: Refer to this calculation on the Income Statement 33 34 35 36 Cost of Goods Sold as a percentage of Net Revenues Gross Profit = Revenues-COGS SG&A is Selling, General and Administrative Expenses Net Revenues are Gross Revenues less any sales discounts, returns, and allowances. 37 38 ** Enter all numbers as positive numbers, and either add or subtract in the subtotals and total calculations