Home Insert Draw Page Layout Formulas Data Review View Tell me X Calibri 11 ' v ab Wrap Text Paste P12 BIU fx v = Merge & Center A B C D E F G H 31 32 33 34 35 36 37 38 39 40 Sales revenue Cost of goods sold Gross profit margin Salary and wage expense Depreciation expense Other operating expenses Total operating expenses Operating income Other expenses(revenue): Interest expense $ 338,000 $ 165,000 $ 173,000 $ 69,000 X Y $ 120,000 $ 53,000 $ 4,000 41 Impairment loss - goodwill $ 12,500 42 Loss(gain) on sale of equipment $ (2,500) $ 14,000 43 Income before income tax $ 39,000 44 Income tax expense $ 9,750 45 Net income $ 29,250 46 47 Additional information: 48 49 2 No items impacted earnings other than net income and dividends. 50 51 1 Equipment with a cost of $20,000 that was 80% depreciated was sold during 2017. 3 If the FIFO method had been in use, inventories would have been $22,000 thousand and $21,000 thousand higher than reported at December 31, 2017 and 2016, respectively. 52 4 Long-term debts are issued at par. 53 5 The effective tax rate for 2017 and earlier periods is 25%. 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 General $ % 000 Conditional Formatting K L Question 13 Not yet answered Points out of 8.00 Flag question For the next 6 Questions: Use the financial statements of STU Corporation. (The Excel file distributed on 5/9.) Assume all purchases and sales are on credit and there are 365 days in one year. Round to the first decimal place, such as 2345.6, if necessary. Find X and Y in the income statement, then calculate STU's cash flow from operating activities in 2017. thousand. Question 14 Not yet answered What amount of cash dividends did STU pay in 2017? (Note: Answer in a positive number.) Points out of 8.00 Flag question thousand Question 15 Calculate the STU's cash conversion cycle in 2017. Not yet answered Points out of 8.00 Flag question days