2/6/2020 Check Your Work
This window shows what is correct and incorrect for the work you have completed so far.
Even if all of the work you have done so far is correct, you may not have completed everything.
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
Gross sales revenue
Sales returns and allowances
Net sales revenue
Cost of sales
Gross profit
Operating expenses
Earnings before income taxes
Income tax expense (20%)
Net earnings
Earnings per share (20,000 shares outstanding)
Year 1
$
179,000
$
Year 2
251,000
0 19,900
179,000
231,100
50%
89,500
19,900
150,150
35%
58,955
69,600
21,900
13,920
4,380
55,680
17,520
2.59
0.88
©2020 McGraw-Hill Education. All rights reserved.
https://ezto.mheducation.com/hm.tpx
1/1
