income statement
November 22, 2022
Essayheroes
| Using the following revenues and expenses, create an income statement in proper format. |
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| Calculate the Gross Profit (Margin) Ratio. |
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| Calculate the Earnings per Share if average common stock outstanding for the year was 200,000 shs. |
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| COGS |
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$ 11,000,000 |
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| Gain on Sale of Assets |
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$ 15,000 |
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| Income Tax Expense |
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$ 330,000 |
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| Interest Expense |
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$ 540,000 |
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| Interest Income |
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$ 290,000 |
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| Loss on Sale of Assets |
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$ 26,000 |
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| Net Sales |
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$ 16,000,000 |
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| Selling, General, & Admin Expenses |
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$ 2,500,000 |
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| Using the following revenues and expenses, create an income statement in proper format. |
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| Calculate the Gross Profit (Margin) Ratio. |
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| Calculate the Earnings per Share if average common stock outstanding for the year was 50,000 shs. |
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| COGS |
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$ 6,520,000 |
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| Gain on Sale of Assets |
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$ 55,000 |
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| Income Tax Expense |
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$ 115,000 |
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| Interest Expense |
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$ 65,000 |
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| Interest Income |
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$ 90,000 |
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| Net Sales |
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$ 8,800,000 |
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| Operating Expenses |
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$ 1,950,000 |
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| Using the following revenues and expenses, create an income statement in proper format. |
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| Calculate the Gross Profit (Margin) Ratio. |
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| Calculate the Earnings per Share if common stock outstanding on 1/1/20 was 450,000 shs, |
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| and common stock outstanding on 12/31/20 was 350,000 shs. |
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| COGS |
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$ 4,500,000 |
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| Gain on Sale of Assets |
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$ 60,000 |
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| Income Tax Expense |
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$ 25,000 |
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| Interest Expense |
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$ 85,000 |
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| Interest Income |
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$ 45,000 |
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| Loss on Sale of Assets |
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$ 7,000 |
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| Net Sales |
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$ 7,000,000 |
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| Selling, General, & Admin Expenses |
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$ 1,700,000 |
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| Using the following revenues and expenses, create an income statement in proper format. |
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| Calculate the Gross Profit (Margin) Ratio. |
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| Calculate the Earnings per Share if common stock outstanding on 1/1/20 was 48,000 shs, |
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| and common stock outstanding on 12/31/20 was 44,000 shs. |
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| COGS |
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$ 2,100,000 |
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| Gain on Sale of Assets |
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$ 30,000 |
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| Income Tax Expense |
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$ 105,000 |
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| Interest Expense |
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$ 55,000 |
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| Interest Income |
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$ 10,000 |
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| Loss on Sale of Assets |
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$ 15,000 |
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| Net Sales |
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$ 3,500,000 |
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| General & Admin Expense |
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$ 285,000 |
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| Wages Expense |
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$ 455,000 |
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| Utilities & Insurance Expense |
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$ 110,000 |
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| Depreciation Expense |
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$ 95,000 |
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| Lease & Rent Expense |
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$ 40,000 |
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| Supplies & Materials Expense |
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$ 55,000 |
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| Dues & Subscriptions Expense |
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$ 15,000 |
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