Presented here are the components in Crane Company’s income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income Year 1 $ 72,340 $Enter a dollar amount for year 1 (b) $ 32,300 $Enter a dollar amount for year 1 (d) $13,050 Year 2 $111,100 $73,700 $Enter a dollar amount for year 2 (c) $Enter a dollar amount for year 2 (e) $30,910 Year 3 $Enter a dollar amount for year 3 (a) $71,900 $116,050 $47,390 $Enter a total net income for year 3 (f)
Presented here are the components in Crane Company’s income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income Year 1 $ 72,340 $Enter a dollar amount for year 1 (b) $ 32,300 $Enter a dollar amount for year 1 (d) $13,050 Year 2 $111,100 $73,700 $Enter a dollar amount for year 2 (c) $Enter a dollar amount for year 2 (e) $30,910 Year 3 $Enter a dollar amount for year 3 (a) $71,900 $116,050 $47,390 $Enter a total net income for year 3 (f)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Presented here are the components in Crane Company’s income statement.
Determine the missing amounts.
|
Sales Revenue
|
Cost of Goods Sold
|
Gross Profit
|
Operating Expenses
|
Net Income
|
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year 1
|
$ 72,340 | $Enter a dollar amount for year 1 | (b) | $ 32,300 | $Enter a dollar amount for year 1 | (d) | $13,050 | ||||||||
|
Year 2
|
$111,100 | $73,700 | $Enter a dollar amount for year 2 | (c) | $Enter a dollar amount for year 2 | (e) | $30,910 | ||||||||
|
Year 3
|
$Enter a dollar amount for year 3 | (a) | $71,900 | $116,050 | $47,390 | $Enter a total net income for year 3 | (f) |
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