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May 25, 2015

Homework Help: Finance

Posted by Rose on Wednesday, March 6, 2013 at 9:28am.

P5. Use your knowledge of income statements to fill in the missing items:
SALES - $------
COST OF GOODS SOLD - $575,000
GROSS PROFIT - $1,600,000
GENERAL AND ADMINISTRATIVE EXPENSE - $200,000
SELLING AND MARKETING EXPENSE - $------
DEPRECIATION - $50,000
OPERATING INCOME - $------
INTEREST - $100,000
INCOME BEFORE TAXES - $------
INCOME TAXES (30%) - $------
NET INCOME - $700,000

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