Compute the rate of net income on stockholders' equity for 2016 and 2015. Retained earnings on January
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Compute the rate of net income on stockholders' equity for 2016 and 2015. Retained earnings on January 1, 2015, was $300,000.
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Austin, Ind Comparative Income Statement Years Ended December 31, 2016 and 2015 Amounts 2016 2015 Sales Less Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit on Sales Selling Expenses General Expenses Total Expenses et Income before Income Taxes Income Tax Expense Net Income after Income Taxes 16 7 1 07515 1966 5 9 6075 8 46 6 5 15 7 50 0 0 14 3 5000 10426 5 0 532 3 5 01 2 1 5 0 0 0 2 1 0 0 0 0 4 2 5 000 11017[3 5 01 487900 2 05 0 00 19 00 0 0 9 2 9 00 2787 0 6 5 0 3 0 3 2 2 05 7 5 1 45
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
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