You are given the following information about Sandhill Plumbing Company. Revenues in 2017 totaled $ 917, depreciation expenses $ 85, costs of goods sold $ 399, and interest expenses $ 62. At the end of the year, current assets were $ 150 and current liabilities were $ 111. The company has an average tax rate of 34 percent. Calculate its net income by setting up an income statement. (Round answers to 2 decimal places, e.g. 15.25)
You are given the following information about Sandhill Plumbing Company. Revenues in 2017 totaled $ 917, depreciation expenses $ 85, costs of goods sold $ 399, and interest expenses $ 62. At the end of the year, current assets were $ 150 and current liabilities were $ 111. The company has an average tax rate of 34 percent. Calculate its net income by setting up an income statement. (Round answers to 2 decimal places, e.g. 15.25)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You are given the following information about Sandhill Plumbing Company. Revenues in 2017 totaled $ 917,
Sandhill Plumbing Company Income Statement choose the accounting period |
||
---|---|---|
Amount | ||
select an income statement item
|
$ enter a dollar amount | |
select an income statement item
|
enter a dollar amount | |
select a summarizing line for the first part
|
$ enter a total amount for the first part | |
select an income statement item
|
enter a dollar amount | |
select a summarizing line for the second part
|
$ enter a total amount for the second part | |
select an income statement item
|
enter a dollar amount | |
select a summarizing line for the third part
|
$ enter a total amount for the third part | |
select an income statement item
|
enter a dollar amount | |
select a closing name for this statement
|
$ enter a total net income or loss amount |
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