(Working with the income statement) At the end its third year of operations, the Sandifer...
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(Working with the income statement) At the end its third year of operations, the Sandifer Manufacturing Co. had $4.553.000 in revenues, 53.373.000 in cost of goods sold. $445.000 in operating expenses which included depreciation expense of $158,000, and a tax liability equal to 34 percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest $53,000 of its earnings back into the firm. What does this plan leave for the payment of a cash dividend to Sandifer's stockholders? Complete the income statement for Sandifer Manufacturing Co.: (Round to the nearest dollar.) Revenues = $ Less: Cost of Goods Sold = S Equals: Gross Profit = S Less: Operating Expenses = $ Equals: Net Operating Income = S Less: Interest Expense = $ Equals: Earnings before Taxes = s Less: Income Taxes = $ Equals: Net Income S The amount that the company will be able to pay as a cash dividend is $0 (Round to the nearest dollar.)
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