Sales COGS Gross profit G&A expenses Sales & Marketing expenses Depreciation Operating income Interest Income Before taxes Income taxes Net income $575,000 $ 1,600,000 $200,000 $ 50,000 $ 100,000 30% $ 700,000 1: Calculate Sales. 2. Calculate Income before taxes. Taxes are 30%, so you know the Net Income (Y) is a percent of "Income before taxes" (X). 3. Calculate the Income tax figure. 4. Calculate Operating Income. 5. Calculate Sales & marketing.
Sales COGS Gross profit G&A expenses Sales & Marketing expenses Depreciation Operating income Interest Income Before taxes Income taxes Net income $575,000 $ 1,600,000 $200,000 $ 50,000 $ 100,000 30% $ 700,000 1: Calculate Sales. 2. Calculate Income before taxes. Taxes are 30%, so you know the Net Income (Y) is a percent of "Income before taxes" (X). 3. Calculate the Income tax figure. 4. Calculate Operating Income. 5. Calculate Sales & marketing.
Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter2: Financial Statements, Cash Flow,and Taxes
Section: Chapter Questions
Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...
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![Sales
COGS
Gross profit
G&A expenses
Sales & Marketing expenses
Depreciation
Operating income
Interest
Income Before taxes
Income taxes
Net income
$575,000
$ 1,600,000
$200,000
$ 50,000
$ 100,000
30%
$ 700,000
1: Calculate Sales.
2. Calculate Income before taxes. Taxes are 30%, so you know the Net
Income (Y) is a percent of "Income before taxes" (X).
3. Calculate the Income tax figure.
4. Calculate Operating Income.
5. Calculate Sales & marketing.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe7c741ed-efa4-40ff-af67-58acc6693acd%2Faee54322-1d17-4ee1-bc0d-c6e1a869039c%2F1z3kc3o_processed.png&w=3840&q=75)
Transcribed Image Text:Sales
COGS
Gross profit
G&A expenses
Sales & Marketing expenses
Depreciation
Operating income
Interest
Income Before taxes
Income taxes
Net income
$575,000
$ 1,600,000
$200,000
$ 50,000
$ 100,000
30%
$ 700,000
1: Calculate Sales.
2. Calculate Income before taxes. Taxes are 30%, so you know the Net
Income (Y) is a percent of "Income before taxes" (X).
3. Calculate the Income tax figure.
4. Calculate Operating Income.
5. Calculate Sales & marketing.
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