The statement of income for Primitivo Winery Inc. for the years 2022 to 2024 is presented below.
Question:
The statement of income for Primitivo Winery Inc. for the years 2022 to 2024 is presented below.
Required
Calculate the missing amounts on the statement of income.
Transcribed Image Text:
Sales revenue Cost of goods sold Gross margin Operating expenses Insurance expense Utility expense Travel expenses Depreciation expense Operating income Rental income Interest expenses Earnings before income taxes Income tax expense Net earnings PRIMITIVO WINERY INC. Statement of Income For the year ended April 30 (in thousands of dollars) 2024 $ 2,000 1,200 ? GA 100 45 ? 50 506 350 ? 811 20 ? 2023 $1,654 ? ? 57 35 100 50 426 ? 60 591 ? $ 576 2022 $ ? 837 608 $ 45 15 105 50 ? 200 65 ? 14 ?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
2024 Gross Margin Sales Revenue 2000 COGS 1200 800 Travel Expenses Gross margin 800 Operating income ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Understanding Financial Accounting
ISBN: 9781119715474
3rd Canadian Edition
Authors: Christopher D. Burnley
Question Posted:
Students also viewed these Business questions
-
The consolidated statement of income for Ford Motor Company appears below. 1. What do you notice about the way revenues and expenses are partitioned? 2. For the Automotive division, compute the ratio...
-
The consolidated statement of income for Ford Motor Company appears below. Net income/(loss) attributable to ford motor company Amounts per share attributable to ford motor company common and class B...
-
The statement of income for DiTuri Manufacturing Inc. for the years 2022 to 2024 is presented below. Required Calculate the missing amounts on the statement of income. Sales revenue Cost of goods...
-
1. The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary...
-
Explain how you would estimate the total worth of a business.
-
Why can it be dangerous to use a spreadsheet to create simulations of the cost of capital?
-
Simonson Engineers plc is considering the building of a new plant in Indonesia to produce products for the South-East Asian market. To date, 450,000 has been invested in market research and site...
-
On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates it will use this equipment for four years. It estimates that after...
-
Stock Valuation at Ragan Engines Nautilus Marine Engines's negative earnings per share ( EPS ) were the result of an accounting write - off last year. Without the write - off, EPS for the company...
-
The following account balances are taken from Ballistik Ltd.s adjusted trial balance at January 31, 2024: Required a. Prepare a single-step statement of income for the year ended January 31, 2024. b....
-
Beach Life Ltd. operates an online booking service restricted to beachfront properties around the world. Users of the companys website booked beach rentals totalling $7.8 million in 2024. Bookings...
-
See if you can locate still other Web sites that assess personality. How, if at all, do these personality assessments match up with what you have covered in this chapter on personality and attitudes?
-
The pulse rates of 152 randomly selected adult males vary from a low of 37 bpm to a high of 117 bpm. Find the minimum sample size required to estimate the mean pulse rate of adult males. Assume that...
-
A rod 12.0 cm long is uniformly charged and has a total charge of -23.0 C. Determine the magnitude and direction of the electric field along the axis of the rod at a point 32.0 cm from its center....
-
Hello need help with this problem. The transactions relating to the formation of Blue Company Stores Incorporated, and its first month of operations follow. a. The firm was organized and the...
-
At the beginning of the year, the net assets of Shannon Company were $492,600. The only transactions affecting stockholders equity during the year were net income of $70,200 and dividends of $15,400....
-
The claim is that smokers have a mean cotinine level greater than the level of 2.84 ng/mL found for nonsmokers. (Cotinine is used as a biomarker for exposure to nicotine.) The sample size is n = 739...
-
Refer to the facts in the preceding problem. Assume that in the year 2019, the Social Security base amount increases to $131,000. Compute BDFs 2019 employer payroll tax with respect to Mr. Williams...
-
Could a set of three vectors in span all of? Explain. What about n vectors in when n is less than m? R4
-
Explain why revenues are recorded as increases to retained earnings in the template system.
-
Explain why no interest expense is recorded at the time a company takes out a new loan. Also explain when interest expense should be recorded.
-
Explain why prepaid insurance is considered to be an asset. What happens to this asset over time?
-
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company...
-
Brief Exercise 10-6 Flint Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $327,600. The estimated fair values of the assets are land $62,400, building...
-
"faithful respresentation" is the overriding principle that should be followed in ones prepaparation of IFRS-based financial statement. what is it? explain it fully quoting IAS. how this this...
Study smarter with the SolutionInn App