Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter1: Introduction To Business Activities And Overview Of Financial Statements And The Reporting Process
Section: Chapter Questions
Problem 24E
Related questions
Question
how did they get the Income Before Tax?
Proforma Income Statement | ||||
1/31/21 | ||||
Total Revenue | $ 28,959,000.00 | |||
Cost of Goods | $ 15,299,000.00 | |||
Gross Profit | $ 11,535,000.00 | |||
Operating Expenses | $ 7,609,000.00 | |||
Total Operating Expenses | $ 7,609,000.00 | |||
Operating Income or Loss | $ 3,926,000.00 | |||
Interest Expense | $ 434,000.00 | |||
Income Before Tax | $ 3,644,000.00 | |||
Income Tax Expense | $ 963,000.00 | |||
Income from Continuing Operations | $ 2,681,000.00 | |||
Net Income | $ 2,681,000.00 |
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