Inferring Income Statement Values
Supply the missing dollar amounts for the 2012 income statement of NexTech Company for each of the following independent cases. (Hint: Organize each case in the format of the classified or multiple-step income statement discussed in the chapter. Rely on the amounts given to infer the missing values.)
| Case A | Case B | Case C | CaseD | Case E |
Sales revenue | $900 | $750 | $420 | $ ? | $ ? |
Selling expense | ? | 100 | 80 | 390 | 240 |
Cost of goods sold | ? | 300 | ? | 500 | 320 |
Income tax expense | ? | 30 | 20 | 50 | 20 |
Gross margin | 375 | ? | ? | ? | 430 |
Pretax income | 200 | 200 | ? | 190 | ? |
Administrative expense | 125 | ? | 70 | 120 | 90 |
Net income | 120 | ? | 60 | ? | 80 |
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.