Complete the following statement of earnings (both dollar amounts and component percentages): $$\begin{array} { | l | r | r | }
\hline & \text { Amount } & \text { Component percentage } \
\hline \text { Sales revenue } & \$&\% \
\hline \text { Cost of goods sold } & & 40 \% \
\hline \text { Gross margin } &\$ 120,000 & \
\hline \text { Operating expenses } & & \
\hline \text { Interest expense } & & 2 \%\
\hline \text { Profit (before income tax) } & & \
\hline \text { Income tax expense (rate 20\%) } & & \
\hline \text { Profit } & & 6 \% \
\hline
\end{array}$$

Question

Complete the following statement of earnings (both dollar amounts and component percentages): $$\begin{array} { | l | r | r | } 
\hline & \text { Amount } & \text { Component percentage } \
\hline \text { Sales revenue } &  \$&\% \
\hline \text { Cost of goods sold } & & 40 \% \
\hline \text { Gross margin } &\$ 120,000  & \ 
\hline \text { Operating expenses } & & \
\hline \text { Interest expense } & &  2 \%\
\hline \text { Profit (before income tax) } & & \
\hline \text { Income tax expense (rate 20\%) } & & \
\hline \text { Profit } & & 6 \% \ 
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Complete the following statement of earnings (both dollar amounts and component percentages): $$\begin{array} { | l | r | r | } 
\hline & \text { Amount } & \text { Component percentage } \
\hline \text { Sales revenue } &  \$&\% \
\hline \text { Cost of goods sold } & & 40 \% \
\hline \text { Gross margin } &\$ 120,000  & \ 
\hline \text { Operating expenses } & & \
\hline \text { Interest expense } & &  2 \%\
\hline \text { Profit (before income tax) } & & \
\hline \text { Income tax expense (rate 20\%) } & & \
\hline \text { Profit } & & 6 \% \ 
\hline
\end{array}$$

Complete the Following Statement of Earnings (Both Dollar Amounts and Component