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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

  • Finance -

    5. 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
    An

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