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- 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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