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3. Andrea Aerospaces 2018 and 2017 balance sheets (in thousands of dollars) are shown. Andrea Aerospace December 31 Balance
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Answer #1

Andrea Aerospace

Income Statement

for the year 2018

$ in thousands
Sales 410,707
Less: Cost of Goods Sold (410,707*11%) (45,178)
Gross Profit 365,529
Less: Selling, General and Administrative expense (500)
Less: Depreciation and Amortization (67,165*44%) (29,553)
EBIT 335,476
Less:Interest (234,000)
EBT 101,476
Less: Tax 131,000
NET LOSS (29,524)

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