Commodity markets -purchase30000 Wage of the staff10000 Depreciation of fixed assets6000 Premiums1000 Advertising and promotion800 Overhead cost4000 Revenue from sales250000 Income from investments and investments15000 Gains from disposal of property, plant and equipment500 Loss from disposal of financial data100 Rental income50000 Third party fees2500 Credit interest1400 Debt interest4500 Fixed maintenance costs2000 Considering that: a) the stocks 1.1.20X0 were 5000 €b) the final stock on 31.12.20X0 was determined by physical inventory at 3000 €(c) the income tax rate is 30%;compile the 20X0 income statement, vertical by type.

Income Statement is presented below

Answered: Commodity markets -purchase 30000…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 90PSB

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Commodity markets -purchase	30000
Wage of the staff	10000
Depreciation of fixed assets	6000
Premiums	1000
Advertising and promotion	800
Overhead cost	4000
Revenue from sales	250000
Income from investments and investments	15000
Gains from disposal of property, plant and equipment	500
Loss from disposal of financial data	100
Rental income	50000
Third party fees	2500
Credit interest	1400
Debt interest	4500
Fixed maintenance costs	2000

Considering that:
a) the stocks 1.1.20X0 were 5000 €
b) the final stock on 31.12.20X0 was determined by physical inventory at 3000 €
(c) the income tax rate is 30%;
compile the 20X0 income statement, vertical by type.

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