In: Finance
Precision Systems had sales of $980,000, cost of goods of
$670,000, selling and administrative expense of $62,000, and
operating profit of $138,000.
Prepare an income statement for Precision Systems.
Sales | 980000 |
Cost of Goods Sold | 670000 |
Gross Profit | 310000 |
Selling, general and administrative expenses | 62000 |
Operating expenses | 110000 |
Earnings before interest and tax EBIT | 138000 |
Interest expense | |
Earnings before income tax EBT | |
Income tax expense | |
Net income |