Revenues (-) Cost of Goods sold (-) Other expenses The income tax-rate is 20%. 400000 100000 60000 300000 120000 210000 In addition, consider the following facts: • The share capital of the ABC Corporation at the year ended at 31 December 20X0 was 10000. The retained earnings of the ABC Corporation at the year ended at 31 December 20X0 were 6000. • Reserves of the ABC Corporation at the year ended at 31 December 20X0 were 100000. During 20X1 ABC Corporation declared and paid a dividend of 6000. • During 20X2 ABC Corporation increased its share capital by capitalism existing reserves of 10000. On the basis of the above information answer Questions 1-4.

Revenues (-) Cost of Goods sold (-) Other expenses The income tax-rate is 20%. 400000 100000 60000 300000 120000 210000 In addition, consider the following facts: • The share capital of the ABC Corporation at the year ended at 31 December 20X0 was 10000. The retained earnings of the ABC Corporation at the year ended at 31 December 20X0 were 6000. • Reserves of the ABC Corporation at the year ended at 31 December 20X0 were 100000. During 20X1 ABC Corporation declared and paid a dividend of 6000. • During 20X2 ABC Corporation increased its share capital by capitalism existing reserves of 10000. On the basis of the above information answer Questions 1-4.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 39E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...

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Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
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Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for Cuneo Company above. Required: 1. Prepare a common-size income statement for Year 2 by expressing each line item for Year 2 as a percentage of that same line item from Year 1. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 3 by expressing each line item for Year 3 as a percentage of that same line item from Year 1. (Note: Round percentages to the nearest tenth of a percent.)
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