Find Your Way Back, Inc., reported the following financial statements for the last two years. Construct the
Question:
2008 Income Statement
Sales .........................................................$706,500
Cost of goods sold ................................... 342,531
Selling & administrative .......................... 155,916
Depreciation .............................................. 68,220
EB1T ....................................................... $139,633
Interest ....................................................... 24,120
EBT ......................................................... $115,713
Taxes .......................................................... 40,499
Net income ............................................. $ 75,214
Dividends ................................................ $ 12,000
Addition to retained earnings ............... $63,214
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
Essentials Of Corporate Finance
ISBN: 9780073405131
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan