15-1B_9e - Cost of goods sold 180,000 144,000 Gross profit...

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Problem 15-1B Name: Section: Enter the appropriate amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. 1. PHOENIX TECHNOLOGY COMPANY Comparative Income Statement For the Years Ended December 31, 2008 and 2007 2008 2007 Increase (Dec Amount Amount Amount Sales $385,000 $343,200 Sales returns and allowances 4,800 3,200 Net sales $380,200 $340,000
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Unformatted text preview: Cost of goods sold 180,000 144,000 Gross profit $200,200 $196,000 Selling expenses $87,400 $76,000 Administrative expenses 30,000 24,000 Total operating expenses $117,400 $100,000 Income from operations $82,800 $96,000 Other income 1,600 1,600 Income before income tax $84,400 $97,600 Income tax expense 36,800 32,000 Net income $47,600 $65,600 2. crease) Percent...
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15-1B_9e - Cost of goods sold 180,000 144,000 Gross profit...

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