Sales Revenue Cost of Goods Sold Gross Profit Less: Selling Expenses Commission Expense Advertising Expense Operating Income Non Operating Income Interest Income Investment Income Income before taxes Income Tax Expense Net Income $ 1,200.00 $ 1,000.00 $ 500.00 $ 780.00 $ 18,225.00 $ 8,000.00 $ 10,225.00 $ 2,200.00 $ 8,025.00 $ 1,280.00 $ 9,305.00 $ (425.00) $ 8,880.00

Sales Revenue Cost of Goods Sold Gross Profit Less: Selling Expenses Commission Expense Advertising Expense Operating Income Non Operating Income Interest Income Investment Income Income before taxes Income Tax Expense Net Income $ 1,200.00 $ 1,000.00 $ 500.00 $ 780.00 $ 18,225.00 $ 8,000.00 $ 10,225.00 $ 2,200.00 $ 8,025.00 $ 1,280.00 $ 9,305.00 $ (425.00) $ 8,880.00

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.13MCE

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