Given the following information: Sales Growth Rate 25% COGS / Sales 65% Operating Expense /...
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Given the following information: Sales Growth Rate 25% COGS / Sales 65% Operating Expense / Sales 20% Depreciation Expense (000) $40 Interest Expense (000) $10 Tax Rate 40% Dividends (000) $20 Calculate the following information for 20X1: Income Statement (000) 20X0 20X1 Sales 1500 1875 Cost of goods sold 975 Gross profit 525 Operating costs 300 Depreciation expense 40 Net Operating Profit 185 Interest Expense 10 Earnings Before Taxes 175 Taxes 70 Net Income 105 Dividends $20 Addition to Retained Earnings $85
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