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2/6/2020
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3.
value:
10.00 points
The following data were taken from the year-end records of Nomura Export Company:
Required:
Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.)

Answer is complete but not entirely correct.
Statement of Earnings Items
Year 1
Year 2
Sales returns and allowances
$
179,000
0

$
251,000
19,900
Net sales revenue
179,000

Gross sales revenue
Cost of sales
50%
231,100
150,150


Gross profit
89,500
Operating expenses
19,900
Earnings before income taxes
69,600

21,900
Income tax expense (20%)
13,920

4,380

Net earnings
55,680

17,520

0.88

Earnings per share (20,000 shares
outstanding)
2.59

35%
58,955

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