## income statement

 Using the following revenues and expenses, create an income statement in proper format. Calculate the Gross Profit (Margin) Ratio. Calculate the Earnings per Share if average common stock outstanding for the year was 200,000 shs. COGS \$       11,000,000 Gain on Sale of Assets \$                15,000 Income Tax Expense \$             330,000 Interest Expense \$             540,000 Interest Income \$             290,000 Loss on Sale of Assets \$                26,000 Net Sales \$       16,000,000 Selling, General, & Admin Expenses \$          2,500,000 Using the following revenues and expenses, create an income statement in proper format. Calculate the Gross Profit (Margin) Ratio. Calculate the Earnings per Share if average common stock outstanding for the year was 50,000 shs. COGS \$          6,520,000 Gain on Sale of Assets \$                55,000 Income Tax Expense \$             115,000 Interest Expense \$                65,000 Interest Income \$                90,000 Net Sales \$          8,800,000 Operating Expenses \$          1,950,000 Using the following revenues and expenses, create an income statement in proper format. Calculate the Gross Profit (Margin) Ratio. Calculate the Earnings per Share if common stock outstanding on 1/1/20 was 450,000 shs, and common stock outstanding on 12/31/20 was 350,000 shs. COGS \$          4,500,000 Gain on Sale of Assets \$                60,000 Income Tax Expense \$                25,000 Interest Expense \$                85,000 Interest Income \$                45,000 Loss on Sale of Assets \$                  7,000 Net Sales \$          7,000,000 Selling, General, & Admin Expenses \$          1,700,000 Using the following revenues and expenses, create an income statement in proper format. Calculate the Gross Profit (Margin) Ratio. Calculate the Earnings per Share if common stock outstanding on 1/1/20 was 48,000 shs, and common stock outstanding on 12/31/20 was 44,000 shs. COGS \$          2,100,000 Gain on Sale of Assets \$                30,000 Income Tax Expense \$             105,000 Interest Expense \$                55,000 Interest Income \$                10,000 Loss on Sale of Assets \$                15,000 Net Sales \$          3,500,000 General & Admin Expense \$             285,000 Wages Expense \$             455,000 Utilities & Insurance Expense \$             110,000 Depreciation Expense \$                95,000 Lease & Rent Expense \$                40,000 Supplies & Materials Expense \$                55,000 Dues & Subscriptions Expense \$                15,000