(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,517,000 in revenues, $3,384,000 in cost of goods sold, $440,000 in operating expenses which included depreciation expense of $144,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $43,000 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.) 4,517,000 3,384,000 Revenues = Less: Cost of Goods Sold = Less: Operating Expenses = Less: Interest Expense = $ $ Less: Income Taxes = $ $ Equals: Gross Profit= 440,000 Equals: Net Operating Income = $ $ $ $ 1,133,000 693,000 Equals: Earnings before Taxes = 235,620 Equals: Net Income = $ 457,380 The amount that the company will be able to pay as a cash dividend is $. (Round to the nearest dollar.) 693,000 (Reviewing financial statements) Prepare a balance sheet and income statement for TNT, Inc., from the scrambled list of items found here: a. Prepare an income statement for TNT. b. Prepare a balance sheet for TNT. c. What can you say about the firm's financial condition based on these financial statements? a. Prepare an income statement for TNT. Complete the income statement below: (Select from the drop-down menus and round to the nearest dollar.) TNT Inc. Income Statement Revenues Cost of Goods Sold Gross Profit General and Administrative Expense Depreciation Expense Net Operating Income Interest Expense Earnings before Taxes Income Taxes 60 $ $ 860200 446000 414200 117700 98700 296500 7150 (Reviewing financial statements) Prepare a balance sheet and income statement for TNT, Inc., from the scrambled list of items found here: - a. Prepare an income statement for TNT. b. Prepare a balance sheet for TNT. c. What can you say about the firm's financial condition based on these financial statements? Complete the income statement below: (Select from the drop-down menus and round to the nearest dollar.) TNT Inc. Income Statement Revenues Cost of Goods Sold Gross Profit General and Administrative Expense Depreciation Expense Net Operating Income Interest Expense Earnings before Taxes Income Taxes GOED Net Income 10 $ $ $ M 860200 446000 414200 117700 98700 296500 7150 Depreciation expense Cash Long-term debt Sales Accounts payable General and administrative expense Buildings and equipment Notes payable Accounts receivable Interest expense Accrued expenses Common stock Cost of goods sold Inventory Taxes $98,700 338,500 500,000 860,200 152,700 117,700 1,341,500 113,000 250,580 7,150 11,890 433,000 446,000 148,530 76,355 393,500 Accumulated depreciation Taxes payable Retained earnings (Click on the icon in order to copy its contents into a spreadsheet.) 20,825 454,195