Homework Answers
Solution:
a. Income Statement
Revenue $750,000
Cost of Goods Sold $344,000
SG&A Expenses $ 61,000
Depreciation $ 113,000
EBIT $ 232,000
Interest Expense $ 81,000
Taxable Income $ 151,000
Taxes $ 60,400
Net Income $ 90,600
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b. Operating Cash Flow
OCF = EBIT – Taxes + Depreciation
OCF = $232,000 - $60,400 + $113,000 = $284,600
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ho ck on the following icon in order to copy its contents into a spreadsheet.) Income Statement Accounts for the Year Ending 2017 Account Balance Cost of goods sold $1,424,000 Interest expense $286,000 Taxes $224,000 Revenue $2,984,000 Selling, general, and administrative expenses $451,000 Depreciation $263,000 Print Done el Complete the income statement below. (Round to the nearest dollar.) Income Statement Year Ending December 31, 2017 $ $ EBIT $ $ Taxable income $ $ $ Net income b. produce the...
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