(Input all amounts as positive values.) Given the following information, prepare

Question

(Input all amounts as positive values.)

Given the following information, prepare in good form an income statement for the Dental Drilling Company.

Given the following information, prepare in good form an income statement for the Dental Drilling Company.

  Selling and administrative expense $ 112,000   Depreciation expense 73,000   Sales 489,000   Interest expense 45,000   Cost of goods sold 156,000   Taxes 47,000 Dental Drilling Company Income Statement    $                $                      $                $                $   

Explanation / Answer

Income statement

Sales $489,000 Less cost of good sold $156,000 Gross profit $333,000 Less selling & administration expenses $112,000 Less depreciation expenses $73,000 Operating profit $148,000 Less interest expenses $45,000 Earnings before taxes $103,000 Taxes $47,000 Earnings after taxes $56,000

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