Use your knowledge of income statements and common-size statements to fill in the missing dollar amounts:
|
Sales |
$2,876,200 |
100.0% |
|
Cost of goods sold |
______ |
74.7% |
|
Gross profit |
______ |
25.3% |
|
General and administrative expense |
$250,000 |
8.7% |
|
Selling and marketing expense |
$140,000 |
4.9% |
|
Depreciation |
______ |
3.8% |
|
Operating income |
$229,000 |
8.0% |
|
Interest |
______ |
4.6% |
|
Income before taxes |
$97,000 |
3.4% |
|
Income taxes (25%) |
$24,250 |
0.8% |
|
Net income |
______ |
2.5% |