Given the following information for Smashville, Inc., construct an income statement for the year: Cost of goods

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Given the following information for Smashville, Inc., construct an income statement for the year:

Cost of goods sold:...............$164,000

Investment income:..................$1,200

Net sales:...........................$318,000

Operating expense:.................$71,000

Interest expense:.....................$7,400

Dividends:............................$3,200

Tax rate:..................................35%

What are retained earnings for the year?

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Fundamentals of Investments Valuation and Management

ISBN: 978-0078115660

7th edition

Authors: Bradford Jordan, Thomas Miller

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Question Posted: Nov 18, 2016 09:31 AM

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Given the following information for Smashville, Inc., construct an income statement for the year: Cost of goods

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Given Data Cost of goods sold 164000 Investment income 1200 Net sales 318000 Operat...View the full answer

Fundamentals of Investments Valuation and Management

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