Homework Answers
Answer :
Income statement after reconstruction.
ABC Inc, Income Statement (in thousands)
Dec 31, 2018
|
Particulars |
Amount (in '$') |
|
Sales (all Credit) |
2,10,000 |
|
Cost of goods sold |
1,26,000 |
|
Gross profit on sales |
84,000 |
|
Operating Expenses |
56,000 |
|
Operating Income |
28,000 |
|
Interest expense |
1,000 |
|
Earnings before tax |
27,000 |
|
Income tax |
5,400 |
|
Net income available to common share holders |
21,600 |
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