INCOME STATEMENT ANALYSIS The following table represents portions of the income statements of Brinkerhoff Company for the

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INCOME STATEMENT ANALYSIS The following table represents portions of the income statements of Brinkerhoff Company for the years 2001-2003: 2003 2002 2001 Gross salesmreVeMUCaee biccauss sare oti deine $42,000 $ (9) $25,800 SaleSuGdiSCOuItS seers. ae kusteckentn tM viet a meee eee 0 100 100 SaleSiRSLUGMS gact a acc. ea bused con) vine rae ee0 200 700 Netisalestrevenueh 2 an ccsace 4 ners Set ent eae 42,000 (10) (1) BeGinmingninye nto ny ecuriitie- pat vege en ane (15) 8,000 (2) BUKehaSese eo fece eic coi a hieas aan A ee e ee 24,800 (11) 15,000 RurchasesigiSCOUnts.cmencu. meant: ciceteee ener 700 300 500 Breigntelitivecc. tos stereo so ak ta eter (eae nee Sha ee ee (16) 0 500 Cost of goods available for sale.............. 29,000 25,000 (3) ENGINGUINVENTORVinn -.ccs ols saageratc teins er eeenemre 3,800 (12) (4) Costiohgoods:Soldie acm: tar ates once (17) (13) (5) GYOSSAMArGI Mk tas. cise cake case ete ceee ee (18) 14,000 (6) SellinguexPenSeS ie vn tars s ccnp ee aes 4,000 (14) (7) General and administrative EXPENSES aie wis td Savdn ceeaepaeate tia epee ei eet oie (19) 3,200 3,000 Income before income taxes. ................ 9,000 8,000 4,000 [nCOmnentaxXGS: jason tase Rn ee a ree 4,500 4,000 (8) Ne tl A COMlG et jg cn ceeeesitnurie tpt ee aR eee (20) 4,000 2,000 Required: Fill in the missing numbers. Assume that gross margin is 40% of net sales revenue.

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Financial Accounting

ISBN: 9780324066708

8th Edition

Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.

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