Question

Assignment Gradebook ORION Exercise D2-14 Complete each of the following contribution format income statements by supplying the missing numbers. b. d. Sales revenue $425,000 $700,000 Variable expenses 210,000 86,000 85,000 150,000 400,000 Fixed expenses Operating income Income taxes 70,000 120,000 18,000 16,00055,000 $10,500 $45,000 $145,00o LINK TO VIDEO TO TEXT Question Attempts: 0 of 3 used SAVE FORLATER SUBNIT ANS

Answer 1

	a.	b.	c.	d.
Sales revenue	$    2,95,000.00	$ 4,25,000.00	$    2,67,000.00	$ 7,00,000.00
Variable expenses	$    2,10,000.00	$ 2,75,000.00	$        86,000.00	$ 3,00,000.00
Contribution margin	$        85,000.00	$ 1,50,000.00	$    1,81,000.00	$ 4,00,000.00
Fixed expenses	$        58,000.00	$      70,000.00	$    1,20,000.00	$ 2,00,000.00
Operating income	$        27,000.00	$      80,000.00	$        61,000.00	$ 2,00,000.00
Income taxes	$        16,500.00	$      18,000.00	$        16,000.00	$      55,000.00
Net income	$        10,500.00	$      62,000.00	$        45,000.00	$ 1,45,000.00

Working

	a.	b.	c.	d.
Sales revenue	=210000+85000	425000	=181000+86000	700000
Variable expenses	210000	=425000-150000	86000	=700000-400000
Contribution margin	85000	150000	=120000+61000	400000
Fixed expenses	=85000-27000	70000	120000	=400000-200000
Operating income	27000	=150000-70000	=45000+16000	=145000+55000
Income taxes	=27000-10500	18000	16000	55000
Net income	10500	=80000-18000	45000	145000