View the income statement, and write a 100 word minimum analysis in complete sentences. Period Ending: 12/31/2020 12/31/2019 12/31/2018 12/31/2017 Total Revenue $31,536,000 $24,578,000 $21,461,000 $11,759,000 Cost of Revenue $24,906,000 $20,509,000 $17,419,000 $9,536,000 Gross Profit $6,630,000 $4,069,000 $4,042,000 $2,223,000 Operating Expenses Research and Development $1,491,000 $1,343,000 $1,460,000 $1,378,000 Sales, General and Admin. $3,145,000 $2,646,000 $2,835,000 $2,477,000 Non-Recurring Items -- $149,000 $135,000 -- Other Operating Items -- -- -- -- Operating Income $1,994,000 -$69,000 -$388,000 -$1,632,000 Add'l income/expense items -$92,000 $89,000 $46,000 -$106,000 Earnings Before Interest and Tax $1,902,000 $20,000 -$342,000 -$1,738,000 Interest Expense $748,000 $685,000 $663,000 $471,000 Earnings Before Tax $1,154,000 -$665,000 -$1,005,000 -$2,209,000 Income Tax $292,000 $110,000 $58,000 $32,000 Minority Interest -- -- -- -- Equity Earnings/Loss Unconsolidated Subsidiary -$172,000 -$95,000 $87,000 $279,000 Net Income-Cont. Operations $690,000 -$870,000 -$976,000 -$1,962,000 Net Income $690,000 -$870,000 -$976,000 -$1,962,000 Net Income Applicable to Common Shareholders $690,000 -$870,000 -$976,000 -$1,962,000
View the income statement, and write a 100 word minimum analysis in complete sentences. Period Ending: 12/31/2020 12/31/2019 12/31/2018 12/31/2017 Total Revenue $31,536,000 $24,578,000 $21,461,000 $11,759,000 Cost of Revenue $24,906,000 $20,509,000 $17,419,000 $9,536,000 Gross Profit $6,630,000 $4,069,000 $4,042,000 $2,223,000 Operating Expenses Research and Development $1,491,000 $1,343,000 $1,460,000 $1,378,000 Sales, General and Admin. $3,145,000 $2,646,000 $2,835,000 $2,477,000 Non-Recurring Items -- $149,000 $135,000 -- Other Operating Items -- -- -- -- Operating Income $1,994,000 -$69,000 -$388,000 -$1,632,000 Add'l income/expense items -$92,000 $89,000 $46,000 -$106,000 Earnings Before Interest and Tax $1,902,000 $20,000 -$342,000 -$1,738,000 Interest Expense $748,000 $685,000 $663,000 $471,000 Earnings Before Tax $1,154,000 -$665,000 -$1,005,000 -$2,209,000 Income Tax $292,000 $110,000 $58,000 $32,000 Minority Interest -- -- -- -- Equity Earnings/Loss Unconsolidated Subsidiary -$172,000 -$95,000 $87,000 $279,000 Net Income-Cont. Operations $690,000 -$870,000 -$976,000 -$1,962,000 Net Income $690,000 -$870,000 -$976,000 -$1,962,000 Net Income Applicable to Common Shareholders $690,000 -$870,000 -$976,000 -$1,962,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
View the income statement, and write a 100 word minimum analysis in complete sentences.
| Period Ending: | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 |
|---|---|---|---|---|
| Total Revenue | $31,536,000 | $24,578,000 | $21,461,000 | $11,759,000 |
| Cost of Revenue | $24,906,000 | $20,509,000 | $17,419,000 | $9,536,000 |
| Gross Profit | $6,630,000 | $4,069,000 | $4,042,000 | $2,223,000 |
| Operating Expenses | ||||
| Research and Development | $1,491,000 | $1,343,000 | $1,460,000 | $1,378,000 |
| Sales, General and Admin. | $3,145,000 | $2,646,000 | $2,835,000 | $2,477,000 |
| Non-Recurring Items | -- | $149,000 | $135,000 | -- |
| Other Operating Items | -- | -- | -- | -- |
| Operating Income | $1,994,000 | -$69,000 | -$388,000 | -$1,632,000 |
| Add'l income/expense items | -$92,000 | $89,000 | $46,000 | -$106,000 |
| Earnings Before Interest and Tax | $1,902,000 | $20,000 | -$342,000 | -$1,738,000 |
| Interest Expense | $748,000 | $685,000 | $663,000 | $471,000 |
| Earnings Before Tax | $1,154,000 | -$665,000 | -$1,005,000 | -$2,209,000 |
| Income Tax | $292,000 | $110,000 | $58,000 | $32,000 |
| Minority Interest | -- | -- | -- | -- |
| Equity Earnings/Loss Unconsolidated Subsidiary | -$172,000 | -$95,000 | $87,000 | $279,000 |
| Net Income-Cont. Operations | $690,000 | -$870,000 | -$976,000 | -$1,962,000 |
| Net Income | $690,000 | -$870,000 | -$976,000 | -$1,962,000 |
| Net Income Applicable to Common Shareholders | $690,000 | -$870,000 | -$976,000 | -$1,962,000 |
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