(Input all amounts as positive values.) Given the following information, prepare
ID: 2741782 • Letter: #
Question
(Input all amounts as positive values.)
Given the following information, prepare in good form an income statement for the Dental Drilling Company.
Given the following information, prepare in good form an income statement for the Dental Drilling Company.
Selling and administrative expense $ 112,000 Depreciation expense 73,000 Sales 489,000 Interest expense 45,000 Cost of goods sold 156,000 Taxes 47,000 Dental Drilling Company Income Statement $ $ $ $ $Explanation / Answer
Dental Drilling Company
Income Statement
Sales................................................................... $ 489,000
(-) Cost of goods sold................................................ $ 156,000
Gross profit.................................................. $ 333,000
(-) Selling and administrative expense........................ $ 112,000
(-) Depreciation expense........................................... $ 73,000
Operating profit............................................ $ 148,000
(-) Interest expense.................................................. $ 45,000
Earnings before taxes.................................. $ 103,000
(-) Taxes................................................................... $ 47,000
Earnings after taxes..................................... $ 56,000
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