In: Accounting
Suppose Dansko Integrated has the following revenue and expenses for 2018:
Revenues of $8,500,000
Cost of Goods Sold of $2,550,000
Depreciation Expenses of $800,000
Income Taxes of $1,144,000
Interest Expenses of $90,000
Other Expenses of $500,000
Sales, General, & Administrative Expenses of $1,700,000
Create an income statement with amounts in thousands
What is the value of Earnings Before Interest & Taxes?
Dansko Integrated | |
Income Statement | |
For the year ended 2018 | |
Revenues | 85,00,000 |
Less: Cost of goods sold | 25,50,000 |
Gross Profit | 59,50,000 |
Less: Depreciation Expenses | 8,00,000 |
Less: Sales, General, & Administrative Expenses | 17,00,000 |
Less: Other Expenses | 5,00,000 |
Earnings Before Interest & Taxes (EBIT) | 29,50,000 |
Less: Interest Expenses | 90,000 |
Earnings Before Taxes (EBT) | 28,60,000 |
Less: Income Taxes | 11,44,000 |
Net Income | 17,16,000 |
"Therefore, the value of Earnings Before Interest & Taxes (EBIT) will be $2,950,000"