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domiyisthom
15.07.2019 •
Business
Builtrite had sales of $700,000 and cogs of $280,000. in addition, operating expenses were calculated at 25% of sales. builtrite also received dividends of $40,000 and paid out common stock dividends of $25,000 to its stockholders. a long-term capital gain of $55,000 was realized during the year along with a capital loss of $70,000
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Ответ:
This is the presentation of the income statement of Builtrite in order to compute the net income:
Sales $700,000
Less: COGS $280,000
Gross Profit $420,000
Less: Operating expenses ($700,000 x 25%) $175,000
Dividends expense $25,000
Capital loss $70,000 $270,000
Total $150,000
Add: Dividend income $40,000
Capital gain $55,000 $95,000
Net income $245,000
Ответ:
hiii
Explanation: