A company reports the following data: Interest expense $10,000 Cost of goods sold $160,000 Marketing expenses $70,000 Administrative expenses $50,000 Sales $400,000 Stock dividends $5,000 Income tax $20,000 Depreciation expense $20,000 Construct an income statement using the information provided.
A company reports the following data: Interest expense $10,000 Cost of goods sold $160,000 Marketing expenses $70,000 Administrative expenses $50,000 Sales $400,000 Stock dividends $5,000 Income tax $20,000 Depreciation expense $20,000 Construct an income statement using the information provided.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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A company reports the following data:
Interest expense |
$10,000 |
Cost of goods sold |
$160,000 |
Marketing expenses |
$70,000 |
Administrative expenses |
$50,000 |
Sales |
$400,000 |
Stock dividends |
$5,000 |
Income tax |
$20,000 |
Depreciation expense |
$20,000 |
Construct an income statement using the information provided.
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