Statement of Earnings Items
Year 1
Year 2
Sales revenue
? $ 225,000
Cost of sales
68%
?
Gross profit
?
30%
Operating expenses
26,250
?
Earnings before income taxes
?
42,000
Income tax expense (20%)
?
?
Net earnings
?
?
Earnings per share (10,000 shares
3.50
?
outstanding)
Required:
Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal place
Statement of Earnings Items
Year 1
Year 2
Sales revenue
$ 225,000
Cost of sales
Gross profit
Operating expenses
26,250
Earnings before income taxes
42,000
Income tax expense (20%)
Net earnings
Earnings per share (10000 shares)
3.50