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  1. business
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  3. fill in the missing values for the income statemen

Fill in the missing values for the income statement below given the following information: Gross...

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Accounting

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Fill in the missing values for the income statement below given the following information: Gross margin is 28 Direct labor costs are 60% of the amount of Direct materials costs Tax rate is 35% 6) Mashayekhi and Meckstroth Merchandising, Inc. Income Statement as of the year ending September 30, 2017 (in thousands) Sales revenue Less: Cost of goods sold $ 55,900 Direct materials Direct labor Manufacturing overhead 18,700 Total cost of goods sold Gross profit Less: Operating expenses Selling expenses 3,220 General and administrative expenses Total operating expenses Earnings before interest and taxes Interest expense Income before income taxes Income tax expense NET INCOME (LOSs) 440 $4,576

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