The income statement for Pennsylvania Communications follows. Assume Pennsylvania Communications signed a three-month, 3%, $100,000 note...

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The income statement for Pennsylvania Communications follows. Assume Pennsylvania Communications signed a three-month, 3%, $100,000 note on June 1, 2024, and that this was the only note payable for the company. BEE (Click the icon to view the income statement.) Requirements 1. Fill in the missing information for Pennsylvania sear ended July312024income statement. Round to the nearest dollar. Compute the times-interest-earned ratio for the company. Round to two decimals. 2. Requirement 1. Fill in the missing information for Pennsylvania's year ended July 31, 2024, income statement. Round to the nearest dollar. (Use a 12-month year for interest computations. Use a minus sign or parentheses to enter other expenses.) Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Pennsylvania Communications Income Statement Year Ended July 31, 2024 $ - 35,000 (9,000) 26,000 Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Net Income before Income Tax Expense Income Tax Expense Net Income 690 1,450 (2,140) 23,860 (4,670) The income statement for Pennsylvania Communications follows. Assume Pennsylvania Communications signed a three-month, 3%, $100,000 note on June 1, 2024, and that this was the only note payable for the company. BEE (Click the icon to view the income statement.) Requirements 1. Fill in the missing information for Pennsylvania sear ended July312024income statement. Round to the nearest dollar. Compute the times-interest-earned ratio for the company. Round to two decimals. 2. Requirement 1. Fill in the missing information for Pennsylvania's year ended July 31, 2024, income statement. Round to the nearest dollar. (Use a 12-month year for interest computations. Use a minus sign or parentheses to enter other expenses.) Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Pennsylvania Communications Income Statement Year Ended July 31, 2024 $ - 35,000 (9,000) 26,000 Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Net Income before Income Tax Expense Income Tax Expense Net Income 690 1,450 (2,140) 23,860 (4,670)

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Requirement 1 To fill in the missing information for Pennsylvania Communications income statement we need to calculate the values for Cost of Goods So... View the full answer