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All answers must be entered as a formula!
1. Calculate the net income. Building an Income Statement Exce HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VEW Sign in Paste B nl. |B- 5--. Algnment Number Conditional Format asCell . ormatting TableStylelEditing A B Billys Exterminators, Inc., has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense of $35,000, and a tax rate of 35 percent. What is the net income for this firm? Sales Costs Depreciation expense Interest expense S 734,000 315,000 48,000 35,000 Tax rate Cash dividends Shares outstanding 12 13 35% $ 85,000 110,000 17 20 Complete the following analysis. Do not hard code values in your answers. Inenma Statement Sheeti Show Me 3 4 5 6
1. Calculate the net income. Building an Income Statement Excel HOME INSERT PAGE LAYOUTFORMULAS DATA REVIEW VIEW Sign In Paste BIU - A- Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard D23 G H Tax rate Cash dividends Shares outstanding 12 13 S 85,000 15 16 17 18 110,000 20Complete the following analysis. Do not hard code values in your answers. Income Statement Sales Costs Depreciation expense EBIT Interest expense EBT Taxes (35%) Net income 25 30 32 34 Sheetl + 100% Attempt(s) 3/3 Show Me
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Answer #1

Income Statement

Sales $ 7,34,000
Costs $ 3,15,000
Depreciation Expense $ 48,000
EBIT $ 3,71,000
Interest Expense $ 35,000
EBT $ 3,36,000
Taxes(35%) $ 1,17,600
Net Income $ 2,18,400
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