Foundations of Financial Management Block, Hirt and Danielsen
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Problem 2.6, 2.8, 2.21, 3.22, 3.23, 3.24, 4.24, 4.28, 5.11
2.6 Given the following information prepare in good form an income statement for the Dental Drilling Company
Selling and administrative expense |
| $60,000 |
Depreciation expense |
| 70,000 |
Sales |
| 470,000 |
Interest expense |
| 40,000 |
Cost of goods sold |
| 140,000 |
Taxes |
| 45,00 |
2.8. Prepare in good form an income statement for ATM Cards, Inc. Take your calculations all the way to computing earnings per share.
Sales |
| $800,000 |
Shares outstanding |
| 100,000 |
Cost of goods sold |
| 300,000 |
Interest expense |
| 20,000 |
Selling and administrative expense |
| 40,000 |
Depreciation expense |
| 30,000 |
Preferred stock dividends |
| 80,000 |
Taxes |
| 110,000 |
see attachment
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