What is the formula used to get the answers in interest expense and net income? AH.1 Income Statement and Balance Sheet for Vitex Corp.3 Income Statement ($ Million)Forecast Period2004$1,471.2ForecastingFactor2002$1,334.4$667.0$667.42006$1,622.0$811.0$811.02005$1,544.76 Sales7 Cost of Sales8 Gross Operating Income2003$1,401.1$700.6$700.65.0%S735.6$772.450.0%$735.6$772.49.10 Selling, General & Admn. Expenses11 Depreciation12 Other Net (IncomeVExpenses$373.3$406.3$426.6$448.0$470.429.0%$92.0$75.2($8.2)$227.1$789(S9.8)$225.2$85.2$99.48.0%($10.3)($10.8)$243.2($11.4)-0.7%13 EBIT$234.0$252.614($2.0)$23.7$205.4(S1.7)($1.8)($1.9)($2.0)6.0%15 Interest (Income)16 Interest Expense17 Pre-Tax Income$20.1$206.87.0%$20.3$224.7$19.4$21,3$216.4$233.39.0%18$78.7$146.1S81.6$151.619 Income TaxesS72.6$72.4S75.735.0%20 Net Income2122 Dividends23 Adaton to Retained Eamings$132.8$134.4$140.710%$40.1$43.1$46.0$49.3$53.140.0%$92.7$91.3$94.7$96.8$98.624

The interest expense is the amount a borrower has to pay against the amount borrowed. It is…

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Accounting

What is the formula used to get the answers in interest expense and net income?

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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