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What is the correct formula that gives the numbers that are bolded? Big Rock Candy Mountain Mining Co. Income Statements For the Years 2015 and
What is the correct formula that gives the numbers that are bolded?
| Big Rock Candy Mountain Mining Co. | |||
| Income Statements | |||
| For the Years 2015 and 2016 | |||
| 2016 2015 | |||
| Sales | $369,000 | $354,000 | |
| Costs of goods sold | 285400 | 281800 | |
| Gross profit | 83900 | 72200 | |
| Depreciation | 26820 | 26360 | |
| Selling & Admin. Expense | 23340 | 21820 | |
| Other Operating Expense | 1080 | 1080 | |
| Net Operating Profit | 32660 | 22940 | |
| Interest Expense | 7685 | 7505 | |
| Earnings Before Taxes | 24975 | 15435 | |
| Taxes | 9990 | 6174 | |
| Net Income | $14,985 | $9,261 | |
| Notes: | |||
| Tax Rate | 40.00% | 40.00% | |
| Shares | 52100 | 52100 | |
| Earning per Share | $0.29 | $0.18 | |
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Managefirst Managerial Accounting With Pencil/Paper Exam
Authors: National Restaurant Association
1st Edition
0132283417, 978-0132283410
