Income statement. From the following income statement accounts in the popup wind

Question

Income statement. From the following income statement accounts in the popup window, EEB a. produce the income statement for the year b. produce the operating cash flow for the year a. produce the income statement for the year Complete the income statement below. (Round to the nearest dollar.) Income Statement i Data Table Year Ending December 31, 2017 Income Statement Accounts for the Year Ending 2017 Balance ccount Cost of goods sold Interest expense $1,419,000 $288,000 S318,000 $2,984,000 $454,000 $258,000 axes Revenue Selling, general, and administrative expenses EBIT Taxable income epreciation Net income Print Done

Explanation / Answer

Answer = 1) Income Statement Year Ending December 31, 2017 Particulars Amount Revenue $            29,84,000 Less: Cost of Goods Sold $            14,19,000 Gross Revenue $            15,65,000 Less: Operating Expenses Selling, Genral and administrative Expenses $              4,54,000 Depreciation $              2,58,000 EBIT $              8,53,000 Interest Expenses $              2,88,000 Taxable Income $              5,65,000 Taxes $              3,18,000 Net income $              2,47,000 Answer = 2) Operating Cash Flow Income Statement Particulars Amount Revenue $        7,84,00,000 Less: Cost of Goods Sold $        3,48,00,000 Gross Revenue $        4,36,00,000 Less: Operating Expenses Selling, Genral and administrative Expenses $            70,00,000 Depreciation $            73,00,000 Eearning Before Taxes $        2,93,00,000 Taxes $            87,90,000 Net income After Taxes = $        2,05,10,000 Operating Cash Flow= Net income After Taxes + Depreciation Net income After Taxes= $        2,05,10,000 Add: Depreication = $            73,00,000 Operating Cash Flow. = $        2,78,10,000 Answer = 3) Operating Cash Flow Income Statement Particulars Amount Revenue $        8,00,00,000 Less: Cost of Goods Sold $        3,50,00,000 Gross Revenue $        4,50,00,000 Less: Operating Expenses Selling, Genral and administrative Expenses $            64,00,000 Depreciation $            76,00,000 Eearning Before Taxes $        3,10,00,000 Taxes $            93,00,000 Net income After Taxes = $        2,17,00,000 Operating Cash Flow= Net income After Taxes + Depreciation Net income After Taxes= $        2,17,00,000 Add: Depreication = $            76,00,000 Operating Cash Flow. = $        2,93,00,000

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