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D Calculate for the cells highlighted in yellow Time Value of Money problems For these problems where interest rate is needed use: 7% Additional problems: YEAR 1 2 Income Statement Tax rate: 30% 11 Sales 65,000 76,7 Cost of Goods Sold 40,000 12 Gross Profit Selling, General, & Administrative Expense 12,500 Depreciation 1,750 Income before Tax (14,250) 13 Tax Expense 4 Net Income Gross Profit Margin Amount Depreciation Expense reduces Cash

D Calculate for the cells highlighted in yellow Time Value of Money problems For these problems where interest rate is needed use: 7% Additional problems: YEAR 1 2 Income Statement Tax rate: 30% 11 Sales 65,000 76,7 Cost of Goods Sold 40,000 12 Gross Profit Selling, General, & Administrative Expense 12,500 Depreciation 1,750 Income before Tax (14,250) 13 Tax Expense 4 Net Income Gross Profit Margin Amount Depreciation Expense reduces Cash

FINANCIAL ACCOUNTING
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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I need help with the income statement. 

Merge & Center v $ v % 9 8 * x v fx 00 Conditional Forma E12 00 Formatting as Tabl B 1 Calculate for the cells highlighted in yellow Time Value of Money problems 3 For these problems where interest rate is needed use: 40 7% 41 Additional problems: 42 YEAR 1 43 Income Statement 44 Tax rate: 30% 45 #11 Sales 16 Cost of Goods Sold 65,000 76,700 40,000 17 #12 Gross Profit 18 Selling, General, & Administrative Expense 12,500 Depreciation 1,750 Income before Tax (14,250) 1 2. #13 Tax Expense 3. #14 Net Income #15 Gross Profit Margin 7 #16 Amount Depreciation Expense reduces Cash 2. 甲
Transcribed Image Text:Merge & Center v $ v % 9 8 * x v fx 00 Conditional Forma E12 00 Formatting as Tabl B 1 Calculate for the cells highlighted in yellow Time Value of Money problems 3 For these problems where interest rate is needed use: 40 7% 41 Additional problems: 42 YEAR 1 43 Income Statement 44 Tax rate: 30% 45 #11 Sales 16 Cost of Goods Sold 65,000 76,700 40,000 17 #12 Gross Profit 18 Selling, General, & Administrative Expense 12,500 Depreciation 1,750 Income before Tax (14,250) 1 2. #13 Tax Expense 3. #14 Net Income #15 Gross Profit Margin 7 #16 Amount Depreciation Expense reduces Cash 2. 甲
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