Key to Practice Exam 1

Key to Practice Exam 1 - $19,800 Summary Statement June 4,...

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Profit Statement Division A Revenue $250,000 Cost of Goods Sold $162,500 65% Margin $87,500 35.0% Administrative Expenses $37,500 15% 15.0% Interest $5,000 2.0% Income Before Taxes $45,000 18.0% Taxes $15,750 35% 6.3% Net Income $29,250 11.7%
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Profit Statement Division B Revenue $105,000 Cost of Goods Sold $63,000 Margin $42,000 Administrative Expenses $10,500 Interest $3,500 Income Before Taxes $28,000 Taxes $8,400 Net Income $19,600
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Profit Statement Division C Revenue $400,000 Cost of Goods Sold $280,000 Margin $120,000 Administrative Expenses $80,000 Interest $7,000 Income Before Taxes $33,000 Taxes $13,200 Net Income
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Unformatted text preview: $19,800 Summary Statement June 4, 2005 Division A Division B Division C Revenue $250,000 $105,000 $400,000 Cost of Goods Sold $162,500 $63,000 $280,000 Margin $87,500 $42,000 $120,000 Administrative Expenses $37,500 $10,500 $80,000 Interest $5,000 $3,500 $7,000 Income Before Taxes $45,000 $28,000 $33,000 Taxes $15,750 $8,400 $13,200 Net Income $29,250 $19,600 $19,800 Net Income by Division Division A $29,250 Division B $19,600 Division C $19,800 Total All Divisions $68,650 =SUM('Division A:Division C'!B11)...
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Key to Practice Exam 1 - $19,800 Summary Statement June 4,...

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