Use the Income Statement worksheet below to answer: Which of the following items on the Income Statement connects to the same year’s Balance Sheet? Question 3 options: Liability Insurance Net Income EBT Gross Profit EBTDA
Use the Income Statement worksheet below to answer: Which of the following items on the Income Statement connects to the same year’s Balance Sheet? Question 3 options: Liability Insurance Net Income EBT Gross Profit EBTDA
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter14: Decentralized Operations
Section: Chapter Questions
Problem 14.3E
Related questions
Question
Use the Income Statement worksheet below to answer:
Which of the following items on the Income Statement connects to the same year’s
Question 3 options:
|
Liability Insurance |
|
Net Income |
|
EBT |
|
Gross Profit |
|
EBTDA |
![1345
3
6
7
8
9
10
12
13
14
15
16
17
18
19
20
21
22
23
25
26
27
28
29
30
A B
Sales
COGS
Accommodations
Food
с
Total COGS
Gross Profit
Fixed Expenses
Liability Insurance
Vehicle Insurance
Business License
Vehicle License
Telephone
Banking
Corporate Return
Transportation
T-Shirts
Credit Card Transactions $
Tax Software
Credit Card Flat Fee
Total Fixed Costs
EBTIDA
CCA Expense
Interest
EBT
Tax
Net Income
$
$
LA LA LA LA LA LA LA
$
$
$
$
$
$
LA LA LA LA LA LA LA LA LA LA
$
$
$
$
$
$
$
$
$
$
LA LA LA LA LA LA
$
$
$
$
$
D
44,000
18,216
6,381
3,120
1,643
1,102
30,462
13,538
3,500
880
120
85
700
480
70
240
225
6,300
7,238
6,500
1,220
(482)
(482)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9ba63171-f356-4acc-b49d-88da1964a216%2F8b6968a4-101d-4e7c-a09f-b3fb1efb1291%2F6vt6jvj_processed.png&w=3840&q=75)
Transcribed Image Text:1345
3
6
7
8
9
10
12
13
14
15
16
17
18
19
20
21
22
23
25
26
27
28
29
30
A B
Sales
COGS
Accommodations
Food
с
Total COGS
Gross Profit
Fixed Expenses
Liability Insurance
Vehicle Insurance
Business License
Vehicle License
Telephone
Banking
Corporate Return
Transportation
T-Shirts
Credit Card Transactions $
Tax Software
Credit Card Flat Fee
Total Fixed Costs
EBTIDA
CCA Expense
Interest
EBT
Tax
Net Income
$
$
LA LA LA LA LA LA LA
$
$
$
$
$
$
LA LA LA LA LA LA LA LA LA LA
$
$
$
$
$
$
$
$
$
$
LA LA LA LA LA LA
$
$
$
$
$
D
44,000
18,216
6,381
3,120
1,643
1,102
30,462
13,538
3,500
880
120
85
700
480
70
240
225
6,300
7,238
6,500
1,220
(482)
(482)
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