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(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,500,000 in revenues, $3,375,000 in cost
(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,500,000 in revenues, $3,375,000 in cost of goods sold, 5450,000 in operating expenses which included depreciation expense of $150,000, and a tax liability equal to 35 percent of the firm's taxable income. Sandifer Manufacturing Co plans to reinvest $50,000 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 = The amount that the company will be able to pay as a cash dividend is $. (Round to the nearest dollar.) $ 0 $ S $
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