Income statement. Construct the Barron Pizza, Inc. income statement for the year ending 2015 with the following information (t
he dollar amounts are in thousands of dollars): Shares outstanding: 16,600,000 Tax rate: 375% Interest expense: $6,000 Revenue: $889,413 Depreciation: $31,373 Selling, general, and administrative expense: $77,567 Other income: $1,244 Research and development: $4,095 Cost of goods sold: $750,631 Income Statement Barron Pizza, Incorporated Year Ending 2015 (thousands of dollars) 1 $2 $Gross proft $ 3 $4 $Operating income $ 6 $EBIT $7 $ Income before tax $8 $Net income $Shares outstanding $Earnings per share $
1 answer:
Explanation:
The construction of the income statement for the year ending 2015 is attached in the attachment. Kindly find it below:
As we know that the income statement records only the revenue and the expenses for the particular year
If the income is higher than the revenue, the company earns the net income otherwise it is a net loss and the same is to be reported on the statement of the stockholder equity
The earning per share is
= Net income ÷ Shares outstanding
and the same is shown in the attachment
You might be interested in
Answer:
Explanation:
Balance sheet: In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
The land is a fixed asset and patents is an intangible asset. Thus these items would not come in the current asset section
The preparation of the current assets section of the balance sheet is presented in the spreadsheet. Kindly find the attachment below:
