Reference no: EM13142315
At December 31, 2009, the general ledger of Main Street Marketing had the following account balances. All adjusting entries (except for income taxes at 40%) have been met. The company had 9,000 shares of comon stock outstanding during the year.
Accounts Payable $7340
Accounts Receivable $12,980
Accrued liabilities $22,500
Accumulatted Depreciation $14,980
Advertising Expense $8,777
Cash $7,980
Common Stock $28,000
Cost of goods sold $118,922
Depreciation expense $11,254
Equipment $78,700
Loss on sale of land $7,900
Interest expense $1,980
Merchandise
a. What is the amount of gross profit? Show calculations
b. What is the amount of operating income? Show calculations
c. What is the amount of pretax income?Show calculations
d. What is the amount of net income? Show calculations
e. What are the earnings per share? Show calculations
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