Warrior IndustriesIncome Statementfor year ending 12/31/20XXSales revenueLess cost of goods soldGross marginLess operating expensesMarketingSales and administrativeDepreciationTotal operating expensesOperating incomeInvestigateLess interest expenseIncome before taxesIncome tax expenseNet incomeE12 D0°C40,00020,00010,000(E456,428205,200251,22870,000181,2287,000174,22840,000134,228CoW✿AssetsCurrent AssetsCashAccounts receivableInventoryFixed assetsTotal assets0Warrior IndustriesBalance Sheetfor 12/31/20XXProperty, plant and equipmentAccumulated depreciation*Net fixed assetsTotal current assetsLiabilities and Owner's EquityCurrent liabilitiesAccounts payableNote payable to bankDeposits from customersOwner's EquityLong term mortgageTotal current liabilitiesTotal liabilitiesRetained earningsTotal Owners' EquityTotal liability and equities$ 52,400.00$ 11,000.00$ 15,900.00$ 79,300.00$ 80,000.00$ (20,000.00)$ 60,000.00$139,300.00$ 5,300.00$ 2,700.00$ 6,000.00$ 14,000.00$ 40,000.00$ 54,000.00$ 85,300.00$ 85,300.00$139,300.00(?)60°F C 1. What did it cost to make your product?2. What is the value of everything the company owns?3. How much profit did the company make?4. How much is the business worth to Richard?

SOLUTION:- 1. Cost of a producing a product is nothing but cost of goods sold =$ 205,200 2. Total…

Answered: 1. What did it cost to make your…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter4: Profitability Analysis

Section: Chapter Questions

Problem 23PC

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