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(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,568,000 in revenues, $3,369,000 in cost
(Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,568,000 in revenues, $3,369,000 in cost of goods sold, $451,000 in operating expenses which included depreciation expense of $155,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $47,000 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 ExpensesS Equals: Net Operating Income s 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 s(Round to the nearest dollar.)
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