Question

Excel, please explain the formulas used in excel.

Red ID: Student Name: REMBRANT PAINT COMPANY Income Statement For the year ended December 31, 2021 ($ in thousands, except per share amounts) $ Gross profit Operating expense REMBRANDT PAINT COMPANY $ Operating Income Other income (expense) Income statement items, year ended 12/31/2021 ($ in thousands): Sales revenue Interest revenue Interest expense Cost of goods sold Advertising expense Salaries expense Depreciation expense Dividend income Restructuring costs Loss on selling equipment Loss from operations on plastics business Gain on disposal of the assets of plastics business Shares of common stock outstanding in 2021 Income tax rate 18000 100 300 10500 700 1200 600 200 800 200 1600 2000 500000 0.25 Income before income taxes Income tax expense Net Income Earnings per share $ Net income $

Answer 1

D E F F G H Income statement items year ended 12/31/2021 ($ in thousands) 18,000 10,500 7,500 700 1,200 600 5000 A B с 1 2 3 4 5 6 7 Income statement items 8 year ended 12/31/2021 ($ in thousands) 9 10 Sales revenue 18,000 11 Interest revenue 100 12 Interest expense 300 13 Cost of goods sold 10,500 14 Advertisement expense 700 15 Salaries expense 1,200 16 Depreciation expense 600 17 Dividend income 200 18 Restructuring cost 800 19 Loss on selling equipments 200 20 Loss from operation on plastic business 1,600 21 Gain on disposal of the asset of plastic business 2,000 22 Outstanding common stock 500,000 23 Income tax rate 0.25 24 25 26 27 28 29 30 ($ in thousands, except per share amounts) Sales revenue Cost of goods sold Gross Profit Operating expense: - Advertisement expense Salaries expense Depreciation expense Operating income Other income (expense):- Interest revenue Dividend income Gain on disposal of the asset of plastic business Interest expense Restructuring cost Loss on selling equipments Loss from operation on plastic business Income before income tax Income tax @ 25% Net income 100 200 2,000 -300 -800 -200 -1,600 4,400 1,100 3,300 Earning per share Net income Outstanding common stock Earning per share Net income 3,300 500 6.60 3,300

D E F H Income statement items year ended 12/31/2021 ($ in thousands) =B10 =B13 =H5-H6 =B14 =B15 =B16 =H7-SUM(G9:G11) A B с 1 2 3 4 5 6 7 Income statement items 8 year ended 12/31/2021 ($ in thousands) 9 10 Sales revenue 18,000 11 Interest revenue 100 12 Interest expense 300 13 Cost of goods sold 10,500 14 Advertisement expense 700 15 Salaries expense 1,200 16 Depreciation expense 600 17 Dividend income 200 18 Restructuring cost 800 19 Loss on selling equipments 200 20 Loss from operation on plastic business 1,600 21 Gain on disposal of the asset of plastic business 2,000 22 Outstanding common stock 500,000 23 Income tax rate 0.25 24 25 26 27 28 29 30 ($ in thousands, except per share amounts) =A10 =A13 Gross Profit Operating expense: - =A14 =A15 =A16 Operating income Other income (expense):- =A11 =A17 =A21 =A12 =A18 =A19 =A20 Income before income tax Income tax @ 25% Net income =B11 =B17 =B21 =-B12 =-B18 =-B19 =-B20 =H12+SUM(G14:G20) =H21*B23 =H21-H22 Earning per share =E23 =A22 Earning per share Net income =H23 =B22/1000 =H26/H27 =H27*H28