Sales revenue Variable expenses Contribution margin Fixed expenses Operating income Income taxes Net income $ 236,352 95,012 15,897 $11,128 $ b. $537,356 $ 168,652 90,292 23.508 98,944 138,768 16,027 $48,081 d. $667,836 453,504 59,104 $177.312

Sales revenue Variable expenses Contribution margin Fixed expenses Operating income Income taxes Net income $ 236,352 95,012 15,897 $11,128 $ b. $537,356 $ 168,652 90,292 23.508 98,944 138,768 16,027 $48,081 d. $667,836 453,504 59,104 $177.312

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

Sales revenue
Variable expenses
Contribution margin
Fixed expenses
Operating income
Income taxes
Net income
$
236,352
95,012
15,897
$11,128
$
·
b.
$537,356 $
168,652
90,292
23,508
98,944
138,768
16,027
$48,081
d
$667,836
453,504
59,104
$177,312

Expert Solution

Explanation -

Income Statement -

Income Statement shows the revenue earned and expenses incurred in the accounting period. Expenses shall be fixed or variable according to the nature.

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