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The following data were taken from the year-end records of Nomura Export Company: Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (25%) Net earnings Earnings per share (18,000 shares outstanding) $ Year 1 175,000 50% 19,500 2.55 $ Year 2 247,000 19,500 30% 21,500

The following data were taken from the year-end records of Nomura Export Company: Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (25%) Net earnings Earnings per share (18,000 shares outstanding) $ Year 1 175,000 50% 19,500 2.55 $ Year 2 247,000 19,500 30% 21,500

FINANCIAL ACCOUNTING
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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The following data were taken from the year-end records of Nomura Export Company: Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (25%) Net earnings Earnings per share (18,000 shares outstanding) $ Year 1 175,000 50% 19,500 2.55 Year 2 247,000 19,500 30% 21,500
Transcribed Image Text:The following data were taken from the year-end records of Nomura Export Company: Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (25%) Net earnings Earnings per share (18,000 shares outstanding) $ Year 1 175,000 50% 19,500 2.55 Year 2 247,000 19,500 30% 21,500
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