1. Business
  2. Accounting
  3. please fill up the blanks in the following income statement...

Question: please fill up the blanks in the following income statement...

Question details

Please fill up the blanks in the following income statement of a company: if sales growth in 2020 is 7%, corporate tax rate = 30%, annual prefered dividend = $155,463. Assuming the company does not change its equity structure within 2018-2020.

$ 2018 2019 2020
Sales 3,654,275 4,327,098  
Cost of goods sold -2,538,458 -3,187,571 -3,363,376
Gross profit      
Operating expense -463,687   -495,241
Interest expense -90,364 -76,523 -84,264
Pretax income 561,766    
Corporate tax -168,529.8    
Net income 393,236.2    
Weighted average common shares outstanding (million)      
EPS ($ per share) 1.6 1.4  
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