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You are a summer intern at the office of a local tax preparer. To test your basic knowledge of financial statements, your manager, who graduated

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You are a summer intern at the office of a local tax preparer. To test your basic knowledge of financial statements, your manager, who graduated from your alma mater 2 years ago, gives you the following list of accounts and asks you to prepare a simple income statement using those accounts a. Arrange the accounts into a well-labeled income statement. Make sure you label and solve for gross profits, operating profits, and net profits before taxes b. Using a 35% tax rate, calculate taxes paid and net profits after taxes. c. Assuming a dividend of $1.17 per share with 4.23 million shares outstanding, calculate EPS and additions to retained earnings Data table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Accounts Depreciation expense General and administrative expenses Sales Sales expenses Cost of goods sold Lease expense Interest expense ($000,000) 25.12 22.12 344.75 17.67 224.41 4.84 2.66 no TIIN $ b. Complete the income statement, trom the nint profits before taxes line to the net profits after taxes fine, below (Round to two decimal places Name of Company Income Statement (5000.000) Cont'd Net profits before Les Taxen 35 Net profits autem $ c. The firm's EPS is Round to the nearest con The firm's addition to retained earnings are million (Round to two decimal places

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