i need Part B solution Part A here solution Computation of net income:Net sales680,400Less: cost of goods sold(327,600)Gross profit352,800Less: administrative expense(126,000)Less: selling expense(100,800)Operational income126,000Discontinued operations (loss before income tax)(50,400)Income before tax75,600Less: income tax (30%)(22,680)Net income52,920 Crane Ltd. has retained earnings of NT$715,900 at January 1, 2022. Net income during 2022 was NT$1643,100, and cash dividendsdecdared and paid during 2022 totaled NT$80,700. Prepare a retained earnings statement for the year ended December 31, 2022. (Listitems that increase retained earnings first.)CRANE LTDRetained Earnings StatementNT4RefedtsSohedNT$> (b)Prepare a partial income statement beginning with income before income tax, and including appropriate earnings per shareinformation. Assume 20,000 ordinary shares were outstanding during 2022. (Round earnings per share to 2 decimal places, eg. 1.58.)SPLISH SAIncome Statement>>><>>>>

As requested to Solve Part B so we are answering only Part B.

Answered: Computation of net income: Net sales…

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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For the Year Ended December 31, 2020 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses: Salaries Expense Rent Expense Advertising Expense Total Selling Expenses Administrative Expenses: Salaries Expense Insurance Expense Rent Expense Deprecaition Expense Total Administrative Expenses Total Operating Expenses Operating Income Other Income and Expenses Sales Discounts Forfeited 125,466 45,167 80,299 2,615 725 3,340 12,543 2,563 1,562 1,253 17,921 21,261 59,038 1,575 (265) Interest Expenses Total Other Income and Expenses Net Income 1,310 57.728 What type of financial statement is this? Statement of Owner's Equity Multiple-step Income Statement Balance Sheet O Single-step Income Statement
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7:33 Manero Company included the following information in its annual report: Sales Cost of goods sold Operating expenses Operating income Multiple Choice 20X3 $178,400 115,000 50,000 13,400 O In comparison to year 20X2 the increase in operating income of 20X3 was primarily caused by (ignore taxes): the effect of margin growth. 20X2 $162,500 102,500 50,000 10,000 the effect of sales growth. 20X1 $155,500 100,000 45,000 10,500 the answer cannot be derived from the information provided. the effect of cost of goods sold growth.
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Exercise 14-1 (Algo) Common-Size Income Statement [LO14-1] A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Members of the company's board of directors are surprised to see that net income increased by only $188,500 when sales increased by $1,752,000. This Year This Year $ 7,300,000 4,660,000 2,640,000 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) % % 0.0 % 1,379,000…
2. What is the Pre-tax returns on Sales if the customer retention changed to 75%?
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Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income (a) $1,360,000 Q Search Baseball V V 919,000 V 123,800 317,200 183,800 85,200 65,000 ($16,800) Soccer $3,900,000 2,535,000 $ 202,200 $ 1,162,800 624,000 91,000 139,000 Basketball $2,560,000 2,065,600 178,000 316,400 Baseball 256,000 78,900 104,900 $308,800 ($123,400) Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division (If the amount is negative then enter with a negative sign preceding the number, e.g.-5.125 or parenthesis, eg (5,125)) C $ Total $7,820,000 5,519,600 $ 504,000 F 1,796,400 1,063,800 255,100 308,900 $168,600 Soccer $ B:

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Net sales	680,400
Less: cost of goods sold	(327,600)
Gross profit	352,800
Less: administrative expense	(126,000)
Less: selling expense	(100,800)
Operational income	126,000
Discontinued operations (loss before income tax)	(50,400)
Income before tax	75,600
Less: income tax (30%)	(22,680)
Net income	52,920