The Sales revenue of the company

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Chapter 3, Problem 1SP

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To determine: The Sales revenue of the company

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Understanding the income statement) If the Reid Company earned $500,000 in net income, spent $100,000 in cost of goods sold, had $55,000 of general and administrative expenses, $45,000 in interest expense, $30,000 in depreciation expenses, and $50,000 in taxes, what was the company's sales revenue? 3-2. (Computing earnings per share) If Raines Company earned $280,000 in net income, and paid cash dividends of $40,000, what are Raines's earnings per share if it has 80, 000 shares outstanding? 3-3. (Preparing an income statement) Prepare an income statement and a common - sized income statement from the following information. Sales $525, 000 Cost of goods sold 200,000 General and administrative expenses 62,000 Depreciation expenses 8,000 Interest expense 12,000 Income taxes 97,200

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