Following are the operating data for an advertising firm for the year ended December 31, 2009. Revenues
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Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $175,000
Supplies expense . . . . . . . . . . . . . . . . . . . . . . . . 45,000
Salaries expense . . . . . . . . . . . . . . . . . . . . . . . . 70,000
Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500
Administrative expense . . . . . . . . . . . . . . . . . . . . 6,000
Income taxes (30% of income before taxes) . . . . ?
For 2009, determine:
1. Income before taxes.
2. Income taxes.
3. Net income.
4. Earnings per share (EPS), assuming there are 15,000 shares of stock outstanding.
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Financial Accounting
ISBN: 978-0324645576
10th edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice
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