Please pal! I need serious and correct answer, thank you so much! Entrepreneurship subj. Gross Sales increases by 2% in year 2, 4% in year 3, 6% in year 4, and 8% in year 5.The Gross Profitis 40%.> Operating expenses is 10%.Тах еxpense is 30%6YEAR 1 (ACTUAL)YEAR 2YEAR 3YEAR 4YEAR 5Gross SalesP170 0003.10.17.24.Less: Cost of SalesP102 0004.11.18.25.Gross ProfitP68 0005.12.19.26.Less:Operating P17 0006.13.20.27.ExpensesNet Income Before TaxP51 0007.14.21.28.Income Tax Expenses8.15.22.29.Net Income After Tax2.9.16.23.30.

Income Statement is part of Financial Statements statement which represents Revenue and Expenses…

Answered: Please pal! I need serious and correct…

Business

Accounting

Please pal! I need serious and correct answer, thank you so much! Entrepreneurship subj.

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

Please pal! I need serious and correct answer, thank you so much! Entrepreneurship subj.

Gross Sales increases by 2% in year 2, 4% in year 3, 6% in year 4, and 8% in year 5.
The Gross Profitis 40%.
> Operating expenses is 10%.
Тах еxpense is 30%6
YEAR 1 (ACTUAL)
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Gross Sales
P170 000
3.
10.
17.
24.
Less: Cost of Sales
P102 000
4.
11.
18.
25.
Gross Profit
P68 000
5.
12.
19.
26.
Less:
Operating P17 000
6.
13.
20.
27.
Expenses
Net Income Before Tax
P51 000
7.
14.
21.
28.
Income Tax Expenses
8.
15.
22.
29.
Net Income After Tax
2.
9.
16.
23.
30.

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