Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Income from operations Other income Other expenses Income before income tax Income tax expense Net income $ Ivanhoe Ltd. $88,100 59,027 19,500 780 0 2,424 Ivanhoe Ltée $100,100 40,040 18,000 0 2,200 $13,013

Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Income from operations Other income Other expenses Income before income tax Income tax expense Net income $ Ivanhoe Ltd. $88,100 59,027 19,500 780 0 2,424 Ivanhoe Ltée $100,100 40,040 18,000 0 2,200 $13,013

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

Statement of income information is presented here for two companies:
(a)
Calculate the missing amounts.
Sales
Cost of goods sold
Gross profit
Operating expenses
Income from operations
Other income
Other expenses
Income before income tax
Income tax expense
Net income
LA
Ivanhoe Ltd.
$88,100
59,027
19,500
780
O
2,424
Ivanhoe Ltée
$100,100
40,040
18,000
0
2,200
$13,013

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