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(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,585,000 in revenues, $3,344,000 in
(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,585,000 in revenues, $3,344,000 in cost of goods sold, $453,000 in operating expenses which included depreciation expense of $142,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $56,000 of its earnings back into the firm. What does this plan leave for the payment of a cash dividend to Sandifer's stockholders? Complete the income statement for Sandifer Manufacturing Co.: (Round to the nearest dollar.) Revenues = $ Less: Cost of Goods Sold = $ Equals: Gross Profit = $ Less: Operating Expenses = $ Equals: Net Operating Income = $ Less: Interest Expense = $ Equals: Earnings before Taxes = $ Less: Income Taxes = $ Equals: Net Income = $
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