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XYZ Corporation presents the following financial information for the year ending December 31, 2023: Revenue: $1,200,000 Cost of Goods Sold: $700,000 Operating Expenses: $300,000 Interest
XYZ Corporation presents the following financial information for the year ending December 31, 2023:
- Revenue: $1,200,000
- Cost of Goods Sold: $700,000
- Operating Expenses: $300,000
- Interest Expense: $50,000
- Tax Rate: 30%
- Total Assets: $2,000,000
- Total Liabilities: $1,200,000
a) Prepare the Income Statement.
b) Calculate the Net Income.
c) Prepare the Balance Sheet with the given information.
d) Determine the company's Return on Assets (ROA).
e) Determine the company's Return on Equity (ROE).
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