Protax income Allocated costs() Labor expens Research and development (uncontrollable) Depreciation expense Net Income) Cost of goods sold Marketing costs (not) „Administrative expense Income tax expense (21% of pretax income) Sales ✔ Cost of Goods Sold Gross Prof✔ Deprec ✓ Administrative Expense✔ Other Expenses ✓ Allocated Costs (Uncontrollable) ✓ Research and Development (Uncontrollable) Marketing Costs (Uncontrollable) ✔ 7 Net Income - ✓ $2,030 41,580 190,000 310 18,000 7 A. Prepare the income statement using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended Dec. 31, 20xx 119,700 1,250 7 800 690 330 ✓ Total Expens Pretax Income ✔ V Income Tax Expense (21% of Pretax Income)✔ 190,000 119,700 41,580 18,000✔ 5,300 ✓ 300 ✓ 1,113 4.387 ✓

Protax income Allocated costs() Labor expens Research and development (uncontrollable) Depreciation expense Net Income) Cost of goods sold Marketing costs (not) „Administrative expense Income tax expense (21% of pretax income) Sales ✔ Cost of Goods Sold Gross Prof✔ Deprec ✓ Administrative Expense✔ Other Expenses ✓ Allocated Costs (Uncontrollable) ✓ Research and Development (Uncontrollable) Marketing Costs (Uncontrollable) ✔ 7 Net Income - ✓ $2,030 41,580 190,000 310 18,000 7 A. Prepare the income statement using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended Dec. 31, 20xx 119,700 1,250 7 800 690 330 ✓ Total Expens Pretax Income ✔ V Income Tax Expense (21% of Pretax Income)✔ 190,000 119,700 41,580 18,000✔ 5,300 ✓ 300 ✓ 1,113 4.387 ✓

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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