Question: Problem 2. 25 points. You have been provided the following information for FAMFA Inc (a retail company) for the year ending December 31, 2019. Interest
Problem 2. 25 points. You have been provided the following information for FAMFA Inc (a retail company) for the year ending December 31, 2019. Interest expense Cost of Goods Sold Depreciation Expense Management salaries Advertising expense Ending Inventory Gross sales Taxes Returns and allowances Lease payments Materials purchases R&D expenditures Repairs and maintenance costs $17,090 $223,400 $12,510 $17,950 $12,930 $68,390 $462,720 $3,270 $10,210 $39.270 $228,580 $4,890 $2.910 You are required to prepare FAMFA Inc's income statement for 2019. (15 points). Sates 223,400 12 30 17,090 3,000 Depreciation EBIT Interest Paid Txable income laxes Net Inceme Dudends Addition to retained earnings
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