question archive Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management
Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management
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Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values.
Pretax income ?
Gross profit ?
Allocated costs (uncontrollable) $2,035
Labor expense 41,590
Sales 190,000
Research and development (uncontrollable) 310
Depreciation expense 18,000
Net income/(loss) ?
Cost of goods sold 119,700
Selling expense 1,260
Total expenses ?
Marketing costs (uncontrollable) 790
Administrative expense 680
Income tax expense (21% of pretax income) ?
Other expenses 330
A. Prepare the income statement using the above information. Round your answers to the nearest dollar.
B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $100,000 and 6% cost of capital.
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