The following data were taken from the year-end records of Nomura Export Company: Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (25%) Net earnings Earnings per share (18,000 shares outstanding) $ Year 1 175,000 50% 19,500 2.55 $ Year 2 247,000 19,500 30% 21,500
The following data were taken from the year-end records of Nomura Export Company: Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Statement of Earnings Items Gross sales revenue Sales returns and allowances Net sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (25%) Net earnings Earnings per share (18,000 shares outstanding) $ Year 1 175,000 50% 19,500 2.55 $ Year 2 247,000 19,500 30% 21,500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 8RE
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