Scribd Logo
Upload

Welcome to Scribd!

  • Shoppersville Trading Income Statement For The Year Ended 2016 2016 Amount %

    Uploaded by

    Nicole Andrea Tuazon
    99 views2 pages
    Shoppersville Trading's income statement for 2016 shows net sales of $1,080,000 with gross profit of $444,000 after cost of goods sold of $636,000. Operating income was $152,400 after operating expenses of $291,600, and net income was $80,340 after accounting for interest and tax expenses. Verona Carinderia's comparative income statements for 20AA and 20BB show that while net sales declined from 20AA to 20BB, costs also declined, so gross profit only fell slightly. Operating income and net income both declined from 20AA to 20BB as other expenses increased slightly more than the sales decline.

    Original Description:

    Original Title

    HOMEWORK Shoppersville

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Shoppersville Trading's income statement for 2016 shows net sales of $1,080,000 with gross profit of $444,000 after cost of goods sold of $636,000. Operating income was $152,400 after operating expenses of $291,600, and net income was $80,340 after accounting for interest and tax expenses. Verona Carinderia's comparative income statements for 20AA and 20BB show that while net sales declined from 20AA to 20BB, costs also declined, so gross profit only fell slightly. Operating income and net income both declined from 20AA to 20BB as other expenses increased slightly more than the sales decline.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    99 views2 pages

    Shoppersville Trading Income Statement For The Year Ended 2016 2016 Amount %

    Uploaded by

    Nicole Andrea Tuazon
    Shoppersville Trading's income statement for 2016 shows net sales of $1,080,000 with gross profit of $444,000 after cost of goods sold of $636,000. Operating income was $152,400 after operating expenses of $291,600, and net income was $80,340 after accounting for interest and tax expenses. Verona Carinderia's comparative income statements for 20AA and 20BB show that while net sales declined from 20AA to 20BB, costs also declined, so gross profit only fell slightly. Operating income and net income both declined from 20AA to 20BB as other expenses increased slightly more than the sales decline.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Shoppersville Trading

    Income Statement
    For the year ended 2016
    2016
    Amount %
    Net Sales 1,080,000
    Less: Cost of Goods Sold 636,000
    Gross Profit 444,000
    Less: Operating Expenses 291,600
    Operating Income 152,400
    Less: Interest Expense 28,800
    Income Before Income Tax 123,600
    Less: income Tax 43,260
    Net Income 80,340

    Verona Carinderia
    Comparative Income Statements
    For the years ended 20AA and 20BB

    Amount Percent
    20AA 20BB
    Net Sales 7,457,736 6,779,194
    Less: Cost of Goods Sold 6,228,552 5,728,690
    Gross Profit 1,229,184 1,050,504
    Less: Other Expenses 886,177 794,099
    Operating Income 343,007 256,405
    Less: Interest Expense 74,208 90,365
    Net Income 268,799 166,040

    You might also like