Question: SuperQuick Computer Corporation reported the following income statement for a recent quarter. Consolidated Statement of Income For the Quarter Ended December 31, 2004 Sales ..................$719,150
SuperQuick Computer Corporation reported the following income statement for a recent quarter.
Consolidated Statement of Income
For the Quarter Ended December 31, 2004
Sales ..................$719,150
Cost of sales ............... 549,313
169,837
Research and development costs ....... 16,900
Selling general and administrative expense ... 83,771
Other income and expense, net ......... 7,685
108,356
Income before income taxes .......... 61,481
Provision for income taxes ......... 15,451
Net income ...............$ 46,030
Earnings per share .............. $0.93
Assume that Other Income and Expense are nonoperating.
a. What was the company's gross profit for the quarter?
b. What was the amount of the company's product costs expensed during the quarter?
c. What was the amount of its operating expenses?
d. What was the amount of its operating income?
e. What was the amount of its nonoperating income or expense?
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a Gross profit 169837 b Product costs expensed cost of sales 549313 c Operating expenses resea... View full answer
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