Slotnick Company sells, rents, and services ski equipment. Information about the company's financial performance for a recent

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Slotnick Company sells, rents, and services ski equipment. Information about the company's financial performance for a recent fiscal period is provided below.

Average shares outstanding ............ 20,000

Cost of goods sold ................$34,000

Debt outstanding ................ 65,000

General and administrative expenses ......... 12,000

Income tax expense .............. 20,000

Interest expense ................. 8,000

Payments to owners .............. 30,000

Rental revenue ................ 45,000

Sales revenue .................. 79,000

Selling expense .................. 27,000

Service revenue ................. 23,000

From the information provided, compute the following amounts for the period:

a. Gross profit

b. Operating expenses

c. Income from operations

d. Pretax income

e. Net income

f. Earnings per share


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Financial Accounting Information For Decisions

ISBN: 978-0324672701

6th Edition

Authors: Robert w Ingram, Thomas L Albright

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