Sep 21, 2017 term paper 2

HOW WOULD I CALCULATE THE INCOME FROM OPERATIONS FOR THE YEAR DECEMBER 31 2016, AND HOW WOULD I…

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How would I calculate the income from operations for the year December 31 2016, and how would I calculate net income for the year ended December 31 2016 using the following informatin? Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2016, follows: Net cash provided by operations 24,000 Cost of goods sold 78,000 Selling, general, and administrative expenses 31,000 Accounts payable 22,000 Dividends paid 34,000 Research and development expenses 8,000 Merchandise inventory 43,000 Provision for income taxes 19,000 Net Sales 210,000 Interest expense 16,000


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