of acouts and s you to prepare a singl You are a summer rter a the dice of aloca
ID: 1172237 • Letter: O
Question
of acouts and s you to prepare a singl You are a summer rter a the dice of alocal ta prepa er Totest your basic kneeledge offrancu" statemeres you na ager, whograduì edfo yor ama muter 2 years age, ges youtheta rcone statement uting ??se accouts ?. Anange thie accortsnto a weS labeled ncome statement Make sure you label and solve tr Voss peofts operating profts, and net prots before toes b.Using a 35% tax rate, aculate taxes paid and net potts aner taxes C. Adsurming a dividend of $1 14 per share with 4 20 mion shares outstanding calculate EPS and additions to retained earnings oe for gross protits perating profits, and ne a. Complete the income statement, down to the net profts befone taxes ine, below (Select he account name from the drop-down menus and round the amourits t0 bw ecmal places Name of Company Dita Table 345 Clck on the kcon localed on the top-eight comer of the data table below in order lo Gross pronts Less Operating expense 433 254 Genera and atminstative penies 45 52 ales epenses Cost of geods soid 3 56 Total operating expense Operating protts (E Pit Done Net profts beoe b. Comoiete the income statement trom the net prolts before taves ine to the net orfts ar tanes ine below hoose from any Est or enter any number in the input felds and then coninue to the eqvestionExplanation / Answer
a) Income Statement (to the net profits before taxes line) Amount $ Sales 345.52 Less: COGS -224.86 Gross Profits 120.66 Less: Operating Expenses: Depreciation expenses 24.33 Gen and Admin expenses 22.54 Sales expense 18.64 Lease expenses 3.56 Total operating expenses 69.07 Operating Profits (EBIT) 51.59 Less: Interest expenses 2.28 Income before taxes 49.31 b) Income Statement (net profits before taxes to the net profits after taxes) Amount $ Income before taxes 49.31 Less: Taxation @ 35% 17.26 Net Income 32.05 Outstanding Shares 4.29 EPS 7.47
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.