AAA COMPANY INCOME STATEMENT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 780,401.0 REVENUE 950,001.00 1,503,200.00 3,501,005.00 5,500,001.00 780,401.0 1,503,200.0 3,501,005.0 5,500,001.0 TOTAL REVENUE 950,001.00 0 250,555.0 COST OF REVENUE. TOTAL 355,666.00 1,502,484.0 2,574,149.0 GROSS PROFIT ? 717,978.00 250,000.0 SELLING/GENERAL/ADMIN EXPENSE. TOTAL 260,012.00 310,159.00 490,148.00 560,250.00 RESEARCH & DEVELOPMENT 50,000.00 60,258.00 70,582.00 201,999.00 249,015.00 DEPRECIATION & AMORTIZATION 15,000.00 25,152.00 35,025.00 721,079.00 814,726.00 1,900.00 OPERATING INCOME INTEREST EXPENSE 1,800.00 213,346.0 INCOME BEFORE TAX 247,313.00 300,512.00 INCOME TAX. TOTAL 53,200.00 160,146.0 75,258.00 85,202.00 95,225.00 152,000.00 NET INCOME 172,055.00 215,310.00 RATIOS YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 GROSS PROFIT RATIO ? ? OPERATING RATIO ? ? ? NET PROFIT RATIO ? ? TAX RATIO ? INTEREST COVERAGE RATIO ? ? ? ? ?

AAA COMPANY INCOME STATEMENT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 780,401.0 REVENUE 950,001.00 1,503,200.00 3,501,005.00 5,500,001.00 780,401.0 1,503,200.0 3,501,005.0 5,500,001.0 TOTAL REVENUE 950,001.00 0 250,555.0 COST OF REVENUE. TOTAL 355,666.00 1,502,484.0 2,574,149.0 GROSS PROFIT ? 717,978.00 250,000.0 SELLING/GENERAL/ADMIN EXPENSE. TOTAL 260,012.00 310,159.00 490,148.00 560,250.00 RESEARCH & DEVELOPMENT 50,000.00 60,258.00 70,582.00 201,999.00 249,015.00 DEPRECIATION & AMORTIZATION 15,000.00 25,152.00 35,025.00 721,079.00 814,726.00 1,900.00 OPERATING INCOME INTEREST EXPENSE 1,800.00 213,346.0 INCOME BEFORE TAX 247,313.00 300,512.00 INCOME TAX. TOTAL 53,200.00 160,146.0 75,258.00 85,202.00 95,225.00 152,000.00 NET INCOME 172,055.00 215,310.00 RATIOS YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 GROSS PROFIT RATIO ? ? OPERATING RATIO ? ? ? NET PROFIT RATIO ? ? TAX RATIO ? INTEREST COVERAGE RATIO ? ? ? ? ?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 46E: OBJECTIVE 6 Exercise 1-46 Income Statement ERS Inc. maintains and repairs office equipment. ERS had...

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