1. The following is a partial income statement: $241,000 Sales revenue Cost of food sold Gross...

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1. The following is a partial income statement: $241,000 Sales revenue Cost of food sold Gross margin 101,220 ? Operating expenses Operating income before taxes Taxation Operating income after taxation 103,700 ? 10,824 ? Required: (a) Complete the income statement by filling in the missing figures. (b) Using the completed income statement, prepare a common size income statement. 1. The following is a partial income statement: $241,000 Sales revenue Cost of food sold Gross margin 101,220 ? Operating expenses Operating income before taxes Taxation Operating income after taxation 103,700 ? 10,824 ? Required: (a) Complete the income statement by filling in the missing figures. (b) Using the completed income statement, prepare a common size income statement.

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a To complete the income statement we need to find the missing figures for the operating income befo... View the full answer