The following information pertains to Moonlight Inc. for the fiscal year ending March 31, 2024:ItemAmount...
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Accounting
- The following information pertains to Moonlight Inc. for the fiscal year ending March 31, 2024:
Item | Amount (?) |
Sales | 500,000 |
Cost of Goods Sold | 300,000 |
Administrative Expenses | 40,000 |
Selling Expenses | 30,000 |
Interest Expense | 15,000 |
Income Tax | 20,000 |
Requirements:
- Calculate the gross profit.
- Determine the operating profit.
- Compute the net profit before tax.
- Calculate the net profit after tax.
- Prepare the income statement.
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