please answer all requirements with all working answer in text please The following selected accounts and amounts (in thousands) were taken from the December 31, 2021, financialstatements:(assume dividends were declared and paid)Selling, general and administrative expenses $819,091Cost of goods soldDividends declaredFinance expensesFinance incomeIncome tax expenseInventoriesSales4)5)1,404,4466)146,09220,7525,76769,2212,512,6704) Prepare income statement for the period ending December 31. What is its Net Income?5) What is its Net Income %?6) Ignoring Finance Income and Finance expenses, what is its Gross Margin %?395,646Craft Carpentry's retained earnings were $18,000 at the beginning of the year. The company reported revenues of$296,750, expenses of $278,500, and dividends declared of $15,000 during the year.7) Calculate their retained earnings at the end of the year.7)

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Description: please answer all requirements with all working answer in text please The following selected accounts and amounts (in thousands) were taken from the December 31, 2021, financialstatements:(assume dividends were declared and paid)Selling, general and

An income statement is a statement that includes revenue earned and expenses incurred during the…

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Accounting

The following selected accounts and amounts (in thousands) were taken from the December 31, 2021, financial statements: (assume dividends were declared and paid) Selling, general and administrative expenses $819,091 Cost of goods sold Dividends declared Finance expenses Finance income Income tax expense Inventories Sales 1,404,446 4) 5) 6) 146,092 20,752 5,767 69,221 395,646 2,512,670 4) Prepare income statement for the period ending December 31. What is its Net Income? 5) What is its Net Income %? 6) Ignoring Finance Income and Finance expenses, what is its Gross Margin %? Craft Carpentry's retained earnings were $18,000 at the beginning of the year. The company reported revenues of $296,750, expenses of $278,500, and dividends declared of $15,000 during the year. 7) Calculate their retained earnings at the end of the year. 7)

The following selected accounts and amounts (in thousands) were taken from the December 31, 2021, financial statements: (assume dividends were declared and paid) Selling, general and administrative expenses $819,091 Cost of goods sold Dividends declared Finance expenses Finance income Income tax expense Inventories Sales 1,404,446 4) 5) 6) 146,092 20,752 5,767 69,221 395,646 2,512,670 4) Prepare income statement for the period ending December 31. What is its Net Income? 5) What is its Net Income %? 6) Ignoring Finance Income and Finance expenses, what is its Gross Margin %? Craft Carpentry's retained earnings were $18,000 at the beginning of the year. The company reported revenues of $296,750, expenses of $278,500, and dividends declared of $15,000 during the year. 7) Calculate their retained earnings at the end of the year. 7)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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