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

Question

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

Quizplus · Accepted Answer

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

Complete the Following Income Statement (Both Dollar Amounts and Component