Question

The Oriole company has disclosed the following financial information and its annual reports for the period ending March 31 2017: sales of 1.67 million, cost of goods sold of $813,500, depreciation expenses of $175,000, and interest expenses of $89,575. assume that the firm has an average tax rate of 35%. what is the company's net income? Set up an income statement to answer the question

Label options for header include:
1. for the year ended on March 31, 2017
2. March 31, 2017
3. for the period ended on March 31, 2017

label options include:
1. earnings before taxes
2. revenues
3. earnings before interest taxes depreciation and amortization
4. interest
5. taxes
6. depreciation
7. the income/loss
8. earnings before interest and taxes
9. cost of goods sold

Oriole Company Income Statement Amount $ $ $ $ $ Click if you would like to Show Work for this question: Open Show Work

Answer 1

Oriole Company Income statement For the period ended on march 31,2007 Revenues Cost of goods sold earnings before interest taxes depreciation and amortization Depreciation earnings before interest and taxes interest Earnings before taxes taxes the income / loss 1670000.00 813500.00 856500.00 175000.00 681500.00 89575.00 591925.00 207173.75 384751.25

(answers are rounded to two decimals)

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