COMPARITIVE INCOME STATEMENT for years ended 31 December 2019 2020 Revenues and gains *Sales revenue $ 516,500 $ 278,500 $ 77,900 $ 101,500 $ 974,400 $ 1,705,200 903,875 487,375 136,325 177,625 "Interest revenue "Investment Income $ $ "Other revenue $ Total revenue and gains $ Expenses and losses *"Cost of goods sold **Selling and admin administrative $ ***Computer (operating) *"Depreciation *"Interest expense Total expenses and losses Income before taxes $ 475,000 $ 175,000 $ 42,700 $ 51,000 $ 30,400 $ 774,100 $ 712,500 262,500 64,050 76,500 45,600 1,161,150 544,050 163,215 380,835 $ $ $ $ 200,300 $ $ $ Income tax expense (30%) 60,090 $ 140,210 $ Net Income $
COMPARITIVE INCOME STATEMENT for years ended 31 December 2019 2020 Revenues and gains *Sales revenue $ 516,500 $ 278,500 $ 77,900 $ 101,500 $ 974,400 $ 1,705,200 903,875 487,375 136,325 177,625 "Interest revenue "Investment Income $ $ "Other revenue $ Total revenue and gains $ Expenses and losses *"Cost of goods sold **Selling and admin administrative $ ***Computer (operating) *"Depreciation *"Interest expense Total expenses and losses Income before taxes $ 475,000 $ 175,000 $ 42,700 $ 51,000 $ 30,400 $ 774,100 $ 712,500 262,500 64,050 76,500 45,600 1,161,150 544,050 163,215 380,835 $ $ $ $ 200,300 $ $ $ Income tax expense (30%) 60,090 $ 140,210 $ Net Income $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Using functions , complete the “Aggregated Data” worksheet using the “Statement
of Income” worksheet.
Transcribed Image Text:Financial Aggregated Data
2019
2020
Average Revenue
Largest Expenses
Lowest Revenues
Smallest Expenses
# of Expense components
# of Revenue components
Transcribed Image Text:Living Large Finance
COMPARITIVE INCOME STATEMENT
for years ended 31 December
2019
2020
Revenues and gains
*Sales revenue
$
516,500 $
278,500 $
77,900 $
101,500 $
974,400 $
903,875
487,375
136,325
177,625
*Interest revenue
$
*Investment Income
$
*Other revenue
$
Total revenue and gains
$
1,705,200
Expenses and losses
**Cost of goods sold
**Selling and admin administrative $
***Computer (operating)
**Depreciation
**Interest expense
$
475,000 $
175,000 $
712,500
262,500
64,050
76,500
45,600
1,161,150
544,050
$
42,700 $
51,000 $
30,400 $
774,100 $
$
$
Total expenses and losses
Income before taxes
Income tax expense (30%)
2$
200,300 $
60,090 $
140,210 $
$
163,215
Net Income
$
380,835
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