In 2024, Carla Vista Inc. sold 15,800 units of its product at an average price of...

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In 2024, Carla Vista Inc. sold 15,800 units of its product at an average price of $350 per unit. Carla Vista purchased 20,400 units of its product from its manufacturing supplier in 2024, at an average cost of $220 per unit. Operating expenses (excluding depreciation) for Carla Vista Inc. in 2024 were $367,000 and depreciation expense was $162,000. Carla Vista had $1,010,000 in debt outstanding for the full year, at an interest rate of 10 percent. Finally, Carla Vista's tax rate was 20 percent. Carla Vista's fiscal year runs from January 1 through December 31. Given this information, prepare Carla Vista's 2024 statement of income. Revenues Sales Revenue Expenses Cost of Goods Sold Operating Expenses Carla Vista Inc. Statement of Income For the Year Ending December 31, 2024 5530000 367000 i Depreciation Expense 162000 i Interest Expense Total Expenses Income before Income Taxes Income Tax Expense Net Income/(Loss) 101000 i 5530000 6160000 -630000 -126000 $ -504000 In 2024, Carla Vista Inc. sold 15,800 units of its product at an average price of $350 per unit. Carla Vista purchased 20,400 units of its product from its manufacturing supplier in 2024, at an average cost of $220 per unit. Operating expenses (excluding depreciation) for Carla Vista Inc. in 2024 were $367,000 and depreciation expense was $162,000. Carla Vista had $1,010,000 in debt outstanding for the full year, at an interest rate of 10 percent. Finally, Carla Vista's tax rate was 20 percent. Carla Vista's fiscal year runs from January 1 through December 31. Given this information, prepare Carla Vista's 2024 statement of income. Revenues Sales Revenue Expenses Cost of Goods Sold Operating Expenses Carla Vista Inc. Statement of Income For the Year Ending December 31, 2024 5530000 367000 i Depreciation Expense 162000 i Interest Expense Total Expenses Income before Income Taxes Income Tax Expense Net Income/(Loss) 101000 i 5530000 6160000 -630000 -126000 $ -504000

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