Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Research paper
25/08/2022
Creek Enterprises Common-Size Income Statement for the Year Ended
December 31, 2014
Creek Enterprises
Income Statement for the Year Ended
December 31, 2015
Sales revenue ($35,000,000) 100.0%
Sales Revenue $30,000,000
Less: Cost of goods sold 65.9
Less: Cost of goods sold 21,000,000
Gross profits 34.1%
Gross profits $ 9,000,000
Less: Operating expenses
Less: Operating expenses
Selling expense 12.7%
Selling expense $ 3,000,000
General and administrative expenses 6.3
General and administrative expenses 1,800,000
Lease expense 0.6
Lease expense 200,000
Depreciation expense 3.6
Depreciation expense 1,000,000
Total operating expense 23.2
Total operating expense $6,000,000
Operating profits 10.9%
Operating profits $ 3,000,000
Less: Interest expense 1.5
Less: Interest expense 1,000,000
Net profits before taxes 9.4%
Net profits before taxes $ 2,000,000
Less: Taxes (rate 5 40%) 3.8
Less: Taxes (rate 5 40%) 800,000
Net profits after taxes 5.6%
Net profits after taxes $ 1,200,000
Less: Preferred stock dividends 0.1
Less: Preferred stock dividends 100,000
Earnings available for common stockholders 5.5%
Earnings available for common stockholders$ 1,100,000
Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
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