Question

2 of 2

You are a summer intem at the ofice o alocal tax prepare, Totest your basic knowledge of financial statements, your manag" who radialed tom your alma mater 2 years ago asks you to prepare a smple income statement using those accounts b. Using a 35% tax rate, calculate taxes paid and net profits after taxes c. Assuming res you the hg_ofacowb d the accounts into a well-labeled income statement Make sure you label and solve for gross profts, operating profits, and net profits before taxes a dividend of $108 per share with 4 29 milion shares oustanding calculate EPS and additions to rotained earmings Net profits before taxes Data Table b. Complete the income statement, from the net profits before taxes line to the net prot Name of Company Income Statement (5000.000) Conr'd Click on the icon located on the top-right coner of the data table below in order to copy its contents into a spreadsheet.) Net profits before taes Less Taxes(35%) Net profits after taxes c. The femis EPS is S Round to the nearest cent The fim's additions to retained earmings are $ milion(Round to two decimal places) General and administrative expenses Sales Sales expees Cost of goods sold Lease expense 22.79 44 37 18 87 225 17 478 2 86

Answer 1