use the following information to construct an income statement 599874
Use the following information to construct an income statement:
|
Interest |
$25,000 |
|
Sales |
$950,000 |
|
Income tax rate |
25% |
|
Selling and marketing expenses |
$160,000 |
|
General and administrative expenses |
$200,000 |
|
Gross profit |
$550,000 |
|
Depreciation |
$30,000 |
|
Cost of goods sold |
$400,000 |