Parte II. Preparation of an Income Statement. You are a summer intern at the office...
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Parte II. Preparation of an Income Statement. You are a summer intern at the office of a local tax-preparer John Williams. To test your basic knowledge of financial statements, your manager, who graduated from your alma mater 2 years ago, gives you the following list of accounts and asks you to prepare a simple income statement using those accounts. a. Arrange the accounts into a well-labeled income statement. Make sure you label and solve for gross profit, operating profit, and net profit before taxes. b. Using a 35% tax rate, calculate taxes paid and net profit after taxes. c. Assuming a dividend of $1.10 per share with 4.25 million shares outstanding and calculate EPS
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