Use the following information to construct an income statement. Sales ............... $1,230,000 Cost of goods sold Gross
Question:
Sales ............... $1,230,000
Cost of goods sold
Gross profit
General and administrative expense
Selling and marketing expense
Depreciation ............ $25,000
Operating income
Interest ..............$141,000
Income before taxes
Income taxes (27%) .......... $23,490
Net income .............. $63,510
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Cost of goods sold 684000 Gross profit 546000 General and administrative expense 159000 Selli...View the full answer
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Related Book For
Introduction to Finance Markets Investments and Financial Management
ISBN: 978-1118492673
15th edition
Authors: Melicher Ronald, Norton Edgar
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