FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Supply the missing dollar amounts for the current year income statement of NexTech Company for each of the following independent cases. Note: Input all amounts as positive values. Sales revenue Cost of goods sold Gross margin Selling expense Administrative expense Pretax income Income tax expense Net income Case A Case B $ 980 $ 750 330 440 115 200 160 115 240 40 Case C $ 520 80 90 40 45 Case D 590 370 110 180 55 Case E 340 380 220 90 40 30
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Transcribed Image Text:Supply the missing dollar amounts for the current year income statement of NexTech Company for each of the following independent cases. Note: Input all amounts as positive values. Sales revenue Cost of goods sold Gross margin Selling expense Administrative expense Pretax income Income tax expense Net income Case A Case B $ 980 $ 750 330 440 115 200 160 115 240 40 Case C $ 520 80 90 40 45 Case D 590 370 110 180 55 Case E 340 380 220 90 40 30
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Step 1: Income Statement explained as follows -
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Step 2: Formula for computation of Missing amounts -
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