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1.
Amount Percent Amount Percent
Sales 1,325,000$ 1,200,000$
Sales returns and allowances 25,000 20,000
Net sales 1,300,000$ 1,180,000$
Cost of goods sold 682,500 613,600
Gross profit 617,500$ 566,400$
Selling expenses 260,000$ 188,800$
Administrative expenses 169,000 177,000
Total operating expenses 429,000$ 365,800$
Income from operations 188,500$ 200,600$
Other income 78,000 70,800
Income before income tax 266,500$ 271,400$
Income tax 117,000 106,200
Net income 149,500$ 165,200$
2.
2014
2013
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FIELDER INDUSTRIES INC.
Comparative Income Statement
For the Years Ended December 31, 2014 and 2013
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Instructions
Problem 15(14)-2B
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Section:
0%
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1.
Amount Percent Amount Percent
Sales 1,325,000$ 101.9% 1,200,000$ 101.7%
Problem 15(14)-2B
Name:
Solution
Section:
ON
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Score:
Instructions
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For the Years Ended December 31, 2014 and 2013
FIELDER INDUSTRIES INC.
Comparative Income Statement
2014
2013