E 4-income statement presentation மேட்டமேட The following correct income was prepared to the Al Corporation ALL...

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E 4-income statement presentation மேட்டமேட The following correct income was prepared to the Al Corporation ALL CORPORATION Fo

business accounting

Answer 1

Answer #1

Axel Corporation
Income Statement
For the Year ended 31st December 2021

Sales		$ 592,000.00
Cost of Goods Sold		$ 325,000.00
Gross Profit		$ 267,000.00

Operating Expense
Selling Expenses	$ 67,000.00
Adminstrative expenses	$ 87,000.00	$ 154,000.00

Operating Income		$ 113,000.00

Other Income/(expenses)
Interest Revenue	$ 32,000.00
Gain on Sale of Investment	$ 86,000.00
Interest expense	$ (16,000.00)
Restrutring Cost	$ (55,000.00)	$ 47,000.00

Income Before Taxes		$ 160,000.00

Income Tax Expense		$ 40,000.00

Net Income		$ 120,000.00
Earning Per Share		$ 1.20

Answer 2

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