# fiancial

### Question Description:

33

Problem 2-6 Objective: Income statement Student Name: Course Name: Student ID: Course Number: 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 Document Preview: Problem 2-6 Objective: Income statement Student Name: Course Name: Student ID: Course Number: 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 45,000 Solution Problem 2-6 Instructions Enter data and formulas to complete the Income Statement template below. Dental Drilling Company Income Statement Sales Cost of goods sold Gross profit FORMULA Selling and administrative expense Depreciation expense Operating profit FORMULA Interest expense Earnings before taxes FORMULA Taxes Earnings after taxes FORMULA Problem 2-8 Objective: Determination of profitability 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… Attachments: finance-ws1-p….docx