Instructions Indigo Company Comparative Income Statement For the Years Ended Dec
ID: 2575255 • Letter: I
Question
Instructions Indigo Company Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 830,000.00 $620,000.00 23,700.00 2015 2 Sales 3 Cost of goods sold Gross profit 5 Selling expenses 6Administrative expenses 7Total operating expenses 8 Income from operations 9 Other income 10 Income before income tax 11 Income tax expense 12 Net income 254,200.00 506300.00 $365,800.00 99,200.00 43,400.00 190,900.00 $142,600.00 315,400.00 $223,200.00 49,600.00 000$272,800.00 161,200.00 $111,600.00 $149,400.00 41,500.00 66,400.00 15,800.00 166,000.00 heck My WorkExplanation / Answer
2016
2016
2015
2015
Amount
percent
Amount
percent
Sales
830000
100%
620000
100%
cost of goods sold
323700
39%
254200
41%
Gross profit
506300
61%
365800
59%
Selling expense
149400
18%
99200
16%
Administrative expense
41500
5%
43400
7%
Total operating expense
190900
23%
142600
23%
Income from operations
315400
38%
223200
36%
Other income
66400
8%
49600
8%
Income before Income tax
381800
46%
272800
44%
Income tax
215800
26%
161200
26%
Net income
166000
20%
111600
18%
2016
2016
2015
2015
Amount
percent
Amount
percent
Sales
830000
100%
620000
100%
cost of goods sold
323700
39%
254200
41%
Gross profit
506300
61%
365800
59%
Selling expense
149400
18%
99200
16%
Administrative expense
41500
5%
43400
7%
Total operating expense
190900
23%
142600
23%
Income from operations
315400
38%
223200
36%
Other income
66400
8%
49600
8%
Income before Income tax
381800
46%
272800
44%
Income tax
215800
26%
161200
26%
Net income
166000
20%
111600
18%