Use the following information to construct an income statement. Interest = $25,000; Sales = $950,000; Income tax
Question:
Use the following information to construct an income statement.
Interest = $25,000;
Sales = $950,000;
Income tax rate = 25%;
Selling and marketing expenses = $160,000;
General and administrative expenses = $200,000;
Gross profit = $550,000;
Depreciation = $30,000; and
Cost of goods sold = $400,000.
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Sales 950000 COGS 400000 Gross profit 550000 GA expense 200000 S...View the full answer
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Related Book For
Introduction to Finance Markets Investments and Financial Management
ISBN: 978-1118492673
15th edition
Authors: Melicher Ronald, Norton Edgar
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