(Evaluating profitability?) Last? year, Stevens Inc. had sales of ?$398,000?, with a cost of goods sold...

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(Evaluating profitability?) Last? year, Stevens Inc. had salesof ?$398,000?, with a cost of goods sold of ?$110,000. The? firm'soperating expenses were $134,000?, and its increase in retainedearnings was ?$57,000. There are currently 21,800 common stockshares outstanding and the firm pays a ?$1.61 dividend pershare.
a. Assuming the? firm's earnings are taxed at 34 ?percent,construct the? firm's income statement.
b. Compute the? firm's operating profit margin.
c. What was the times interest? earned?
a. Assuming the? firm's earnings are taxed at 34 ?percent,construct the? firm's income statement.???(Round to the nearestdollar.? NOTE: You may input expense accounts as negative?values.)

Stevens Inc. Income Statement
Sales 398000
Costs of Good Sold 110000
Gross Profits 288000
Operating Expenses 134000
Operating Income (EBIT)
Interest Expense ____
Earnings Before Taxes
_
Sales
Net Income __

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Stevens Inc Income StatementSales39800000Costs of Good Sold11000000Gross See Answer

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(Evaluating profitability?) Last? year, Stevens Inc. had salesof ?$398,000?, with a cost of goods sold of ?$110,000. The? firm'soperating expenses were $134,000?, and its increase in retainedearnings was ?$57,000. There are currently 21,800 common stockshares outstanding and the firm pays a ?$1.61 dividend pershare.a. Assuming the? firm's earnings are taxed at 34 ?percent,construct the? firm's income statement.b. Compute the? firm's operating profit margin.c. What was the times interest? earned?a. Assuming the? firm's earnings are taxed at 34 ?percent,construct the? firm's income statement.???(Round to the nearestdollar.? NOTE: You may input expense accounts as negative?values.)Stevens Inc. Income StatementSales398000Costs of Good Sold110000Gross Profits288000Operating Expenses134000Operating Income (EBIT)Interest Expense______Earnings Before Taxes_____Sales______Net Income______

Sales	398000
Costs of Good Sold	110000
Gross Profits	288000
Operating Expenses	134000
Operating Income (EBIT)
Interest Expense	______
Earnings Before Taxes	_____
Sales	______
Net Income	______