Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way

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Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share.

Sales........................................................................................................... $600,000

Shares outstanding .................................................................................... 100,000

Cost of goods sold ..................................................................................... 200,000

Interest expense ......................................................................................... 30,000

Selling and administrative expense ............................................................ 40,000

Depreciation expense ................................................................................. 20,000

Preferred stock dividends .......................................................................... 80,000

Taxes .......................................................................................................... 100,000


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Foundations of Financial Management

ISBN: 978-0077454432

14th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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