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Use your knowledge of income statements to fill in the missing items: Sales Cost of goods sold $575,000 Gross profit 1,600,000 General and administrative expense
Use your knowledge of income statements to fill in the missing items:
Sales | |
Cost of goods sold | $575,000 |
Gross profit | 1,600,000 |
General and administrative expense | 200,000 |
Selling and marketing expense | ------------ |
Depreciation | 50,000 |
Operating income | ----------- |
Interest | 100,000 |
Income before taxes | ----------- |
Income taxes (30%) | ------------ |
Net income | $700,000 |
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