Question: Complete the Year 2 income statement data for Cold Goose, then answer the questions that follow. Be sure to round each dollar value to
Complete the Year 2 income statement data for Cold Goose, then answer the questions that follow. Be sure to round each dollar value to the nearest whole dollar. Net sales Less: Operating costs, except depreciation and amortization Less: Depreciation and amortization expenses Operating income (or EBIT) Less: Interest expense Pre-tax income (or EBT) Less: Taxes (40%) Earnings after taxes Less: Preferred stock dividends Earnings available to common shareholders Less: Common stock dividends Contribution to retained earnings Cold Goose Metal Works Inc. Income Statement for Year Ending December 31 Year 1 $30,000,000 21,000,000 1,200,000 $7,800,000 780,000 7,020,000 Year 2 (Forecasted) $ 1,200,000 2,808,000 $4,212,000 $ 200,000 4,012,000 1,263,600 $2,748,400 $3,387,850
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