Question
1. Income statement. Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc., . Note Use a tax rate of 37.5% Complete the table below: (Round the income statement accounts to the nearest thousand dollars and the earnings per share to the nearest cent. Also, use parentheses or a minus sign for numbers to be subtracted.) Barron Pizza, Inc. Abbreviated Income Statements for the Years Ending 2012-2014 $ in thousands, except earnings per share) Year Ending Year Ending Year Ending 2013 2012 2014 Account Revenue Cost of goods sold Gross profit Selling, general, and administrative expenses Research and development Depreciation Operating income Other income EBIT Interest expense Income before tax Taxes Net income Shares outstanding Earnings per share 917,277|$ 946293|$- S -669,391 -669,391 $ -656 217 $ 314,977 $-193,064 -3,597 $ -34,478 -35,713 $ 169,316 S-193,064 70,458 $ 5,460 S $ 7,128$ 81,417 $ 60,424 $ 586 $ 2,047 84,650 -8,827 75,823 82,496 $ 6,787 $ $ 74,803 S 28,051 $ 46,752 $ 20,334 $ 47,389 16,749,000 16,749,000 S 2.02 s 2.79 S (Round the income statement accounts to the nearest thousand dollars and the earnings per share to the nearest cent. Also, use parentheses or a minus sign for numbers to be subtracted.) https:/xlitemprod.pearsoncmg.com/api/v 1/print en-us/finance 14
Explanation / Answer
Income statement:
2014 2013 2012 Revenue 917277 946293 971194 [656217+314977] cost of goods sold -747961 [917277-169316] -669391 -656217 Gross profit 169316 276902 314977 selling ,general and administrative expense -70458 -153879 [276902-7128-34478-81417] -193064 Research and development -5460 -7128 -3597 Depreciation -32974 [169316-70458-5460-60424] -34478 -35713 Operating income 60424 81417 82603 other income 586 1079 [82496-81417] 2047 EBIT 61010 82496 84650 Interest expense -6787 -7693 [82496-74803] -8827 Income before tax 54223 74803 75823 Taxes -20334 -28051 -28434 [75823-47839] net income 33889 46752 47839 shares outstanding 16749000 16757000 16749000 EPS 2.02 2.79 2.86 [47839000/16749000]
