Use the following information to construct an income statement. Sales ............... $1,230,000 Cost of goods sold Gross
Question:
Sales ............... $1,230,000
Cost of goods sold
Gross profit
General and administrative expense
Selling and marketing expense
Depreciation ............ $25,000
Operating income
Interest ..............$141,000
Income before taxes
Income taxes (27%) .......... $23,490
Net income .............. $63,510
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 47% (17 reviews)
Cost of goods sold 684000 Gross profit 546000 General and administrative expense 159000 Selli...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Introduction to Finance Markets Investments and Financial Management
ISBN: 978-1118492673
15th edition
Authors: Melicher Ronald, Norton Edgar
Question Posted:
Students also viewed these Finance questions
-
Use the following information to construct a Gantt chart in MS Project. What is the expected duration of the project (critical path)? Assume the project is halfway finished in terms of the schedule...
-
Use the following information to construct a swap of asset cash flows for the bank in problem 15. The bank is a price taker in both the fixed-rate market at 9 percent and the rate-sensitive market at...
-
Use the following information to construct a network diagram using AON notation. Using the network diagram from problem 1: a. Calculate the project completion time Path _______________Path Duration...
-
To pick up the execution results, one can use the executeQuery() and executeUpdate() methods. The former returns an integer, and the latter returns a ResultSet.(True/False)
-
It is common to confuse expressions such as 22, 2-1, 2(-1), (1/2)2, (1/2)-1, -22, (-2)2 and 1/2. List these numbers from least to greatest. Are there any ties?
-
Marcus is a trader selling and buying on both cash and credit terms. He provided the following information on 28 February 209: $ Inventory...
-
The 10 -ft wooden column has the dimensions shown. Determine the critical load if the bottom is fixed and the top is pinned. Take \(E_{\mathrm{w}}=1.6\left(10^{3} ight) \mathrm{ksi}, \sigma_{Y}=5...
-
Strategic analysis of operating income. Halsey Company sells womens clothing. Halseys strategy is to offer a wide selection of clothes and excellent customer service and to charge a premium price....
-
Eva received $79,000 in compensation payments from JAZZ Corporation during 2021. Eva incurred $14,500 in business expenses relating to her work for JAZZ Corporation JAZZ did not reimburse Eva for any...
-
Direct Co sells an item whose demands over the next 4 months are 100, 140, 210, and 180 units, respectively. The company can stock just enough supply to meet each month's demand, or it can overstock...
-
Use the following information to construct an income statement. Interest = $25,000; Sales = $950,000; Income tax rate = 25%; Selling and marketing expenses = $160,000; General and administrative...
-
Use your knowledge of income statements and common-size statements to fill in the missing dollar amounts. Sales Cost of goods sold Gross profit General and administrative expense Selling and...
-
Why is a situational analysis so important in the marketing planning process?
-
TWC issues bullet bonds at 8% , with a ten-year maturity, company will recognize holders of securities in amount of $ 1,000 . With this information assume that changes and valuation will occur at end...
-
4. What remains to be seen however, is whether shareholders are better or worse off with more leverage. Problem 2 does not tell us, because there we computed total value of equity, and shareholders...
-
Define a pure, recursive function argmax that takes two arguments: a function f that maps a value in set A to a number, and a nonempty list xs of values in set A. It returns an element xin xs for...
-
Write the number 101101101.111012 Write the number 110100101.101012 in octal and hexadecimal. in octal and hexadecimal. Convert decimal 21.156 to an octal number. If more than three digits to the...
-
At the state government level, the main sources of income are: Multiple select question. social insurance and retirement receipts. tariffs. sales and excise taxes. state individual and corporate...
-
Sketch the graph of . At each point of discontinuity, state whether is left-or right continuous. f(x): = x 2-x for x 1 for x>1
-
Calculate the change in entropy when 100 kJ of energy is transferred reversibly and isothermally as heat to a large block of copper at (i) 0 C, (ii) 50 C.
-
Why can patterns be labeled experienced reuse?
-
Why did reserve deposits increase to the point that this account represented the largest liability account on the Federal Reserves balance sheet in the late 2000s?
-
What are the major assets of the Federal Reserve System? Describe each.
-
Why did U.S. government agency securities go from nothing to being the largest asset account on the Federal Reserves balance sheet in the late 2000s?
-
Deep in space there is an average particle density = 0 . 9 9 cm -3 3 and an extremely low pressure of P 0 = 4 . 9 x 1 0 - 1 -17 N / m 2 . What is the average temperature of ( mostly ) empty space?...
-
After analyzing the population data of a bacteria colony, a microbiologist determines that the population of the bacterial colony can be modeled by the equation P(t) = 500e0.1t. (a) What is the...
-
Suppose that the terminal point determined by t is the point (1) on the unit circle. Find the terminal point determined by each of the following. (a) It-t (x, y) = (b) -t (x,y)=([ (x, y) = (c) +t (x,...
Study smarter with the SolutionInn App