I need help with this question ASAP. ThanksA preliminary 2016 income
I need help with this question ASAP. ThanksA preliminary 2016 income statement of Alexian Systems is
presented below:
Alexian Systems
Income Statement
For the period ending, December 31 ,2016
(in $milliions)
Revenues and Gains:
Sales $425
Interest Revenue 3
Gain on Sale of Investment 6
Expenses
Cost of Goods Sold 270
Salaries Expense 50
Depreciation Expense 25
Warranty Expense 30
Restructuring Costs 10
Advertising Expense 23
Additional information:
Tax Rate is 40%
Cost of Goods Sold includes a $ 1 million dollar write-down of inventory, that was material
There were 20 million shares of common stock outstanding throughout the year.
I need to Prepare a revised multi Step Income statement, reflecting the additional facts, in good form, with all required footnote disclosures