(Related to Checkpoint 3.1) (Working with the income statement) At the end of its third...
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(Related to Checkpoint 3.1) (Working with the income statement) At the end of its third year of operations, the Sandifer Manufacturing Co. had $4,580,000 in revenues, $3,332,000 in cost of goods sold, $460,000 in operating expenses which included depreciation expense of $151,000, and a tax liability equal to 34 percent of the firm's taxable income. What is the net income of the firm for the year? Complete the income statement for Sandifer Manufacturing Co.: (Round to the nearest dollar.) Revenues = $ Less: Cost of Goods Sold = $ Equals: Gross Profit = Less: Operating Expenses $ Equals: Net Operating Income = Less: Interest Expense = $ 0 Equals: Earnings before Taxes = Less: Income Taxes = TA Equals: Net Income = $ (Working with the income statement) If the Marifield Steel Fabrication Company earned $536,000 in net income and paid a cash dividend of $300,000 to its stockholders, what are the firm's earnings per share if the firm has 104,000 shares of stock outstanding? The company's earnings per share are $ (Round to the nearest cent.)
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