Question: 1. Using the data presented below: Big Rock Candy Mountain Mining Co. Income Statements For the Years 2019 and 2020 2020 2019 Sales $412,500

$398,600 Cost of Goods 318,786 315,300 Gross Profit 93,714 83,300 Depreciation 29,800

1. Using the data presented below: Big Rock Candy Mountain Mining Co. Income Statements For the Years 2019 and 2020 2020 2019 Sales $412,500 $398,600 Cost of Goods 318,786 315,300 Gross Profit 93,714 83,300 Depreciation 29,800 29,652 Selling & Admin. Expense 26,250 24,550 Other Operating Expense 1,210 1,245 Net Operating Income 36,454 27,853 Interest Expense 8,582 8,457 Earnings Before Taxes 27,872 19,396 Taxes 6,968 4,849 Net Income 20,904 14,547 Notes: Tax Rate 25.00% 25.00% Shares 52,100 52,100 Earnings per Share $0.40 $0.28

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