Question

Use the following information to construct income statement for the company.

• Quantity of sales $100,000

• Price per unit $2

• Cost of one unit $1.1

• Total Sales Expenses $25,000

• Total Rent and Utilities $5,000

• Total Marketing Expenses $4,000

• Other expenses $6,000

• Interest Expenses $10,000 Equity $175,000

• Tax expenses $10,000

what is the:

cost of goods sold

net income

sales(revenue)

total other expenses

EBIT

internet expenses

tax expenses

Answer 1

Income Statement:

Particulars	Amount
Sales	$          2,00,000
Cost of Goods Sold	$          1,10,000
Gross Profit	$             90,000
Operating expenes	$             40,000
EBIT	$             50,000
Interest expenses	$             10,000
EBT	$             40,000
Tax expenses	$             10,000
Net Income	$             30,000
Operating expenes	Amount
Sales expenses	$             25,000
Rent & Utiities	$               5,000
Marketing expenses	$               4,000
Other expenses	$               6,000
Total	$             40,000

Pls do rate, if the answer is correct and comment, if any further assistance is required.