Homework Answers
Gross profit = net sales - cost of sales
operating income = gross profit - administrative and selling expenses - distribution expenses -other expenses
profit before tax = operating income - financial expenses + financial income + income from financial instruments + other financial income + equity in income of associates
income tax = profit before tax* effective tax rate
consolidated profit = profit before tax - income tax
portion of profit attributed to minority = consolidated profit - portion of profit attributed to cementex shareholder
portion of profit attributed to cementex shareholder = consolidated profit - portion of profit attributed to minority
Using the above formulas we can find the missing figues,
| year 10 | year 9 | |
| Net sales | $ 236,669.00 | $ 213,769.00 |
| cost of sales | $ 157,696.00 | $ 136,449.00 |
| gross profit | $ 78,973.00 | $ 77,320.00 |
| less other expenses: | ||
| administrative and selling expenses | $ 33,120.00 | $ 28,588.00 |
| distribution expenses | $ 13,405.00 | $ 14,227.00 |
| other expenses | $ 3,281.00 | $ 580.00 |
| operating income | $ 29,167.00 | $ 33,925.00 |
| less financial expenses | $ 8,809.00 | $ 5,785.00 |
| financial income | $ 862.00 | $ 536.00 |
| income from financial instruments | $ 2,387.00 | $ (161.00) |
| other financial income | $ 6,647.00 | $ 4,905.00 |
| equity in income of associates | $ 1,487.00 | $ 1,425.00 |
| profit before tax | $ 31,741.00 | $ 34,845.00 |
| less income tax | $ 4,796.07 | $ 5,697.16 |
| consolidated profit | $ 26,944.93 | $ 29,147.84 |
| portion of profit attributed to minority | $ 837.00 | $ 1,292.84 |
| portion of profit attributed to cementex shareholder | $ 26,107.93 | $ 27,855.00 |
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