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Downhill Inc. sells, rents, and services ski equipment.Information about the company's financial performance for a recent fiscal period is provided below.
Average sharesoutstanding 20,000
Cost of goodssold 36,000
Debtoutstanding 65,000
General and administrationexpenses 12,000
Income taxexpense 20,000
Interestexpense 7,500
Payments toowners 30,000
RentalRevenue 50,000
SalesRevenue 81,000
Sellingexpense 28,000
Servicerevenue 23,000
From the information provided, compute the following amounts forthe period:
a. Goss profit
b. Operating expenses
c. Income from operations
d. Pretax income
e. Net income
f. Earnings pershare
Record the transactions on page 8 of a general journal. You can Omit descriptions. You can use any General Journal template or the one attached.
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Compute the value added, nonvalue added, and the total lead time of the wreath process.
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