1 answer

Value: 20.00 points Prepare an income statement for Franklin Kite Co. Take your calculations all the...

Question:

value: 20.00 points Prepare an income statement for Franklin Kite Co. Take your calculations all the way to computing earnings per share. (Round EPS answer to 2 decimal places.) Sales Shares outstanding Cost of goods sold Interest expense Selling and administrative expense Depreciation expense Preferred stock dividends Taxes $1,500,000 123,000 10,000 29,000 47,000 32,000 89,000 110,000Franklin Kite Company Income Statement 0 0 0 0 Earnings available to common stockholders$ Shares outstanding 0 arnings per shareFranklin Kite Company Income Statement Cost of goods sold Depreciation expense Earnings after taxes Earnings before taxes Interest expense 0 0 0 0 Earnings available to common stockholders$ Shares outstanding 0 arnings per shareFranklin Kite Company Income Statement Interest expense 0 Preferred stock dividends 0 Taxes 0 0 Earnings available to common stockholders Shares outstanding Earnings per share 0Franklin Kite Company Income Statement 0 Gross profit 0 Operating profit 0 0 Earnings available to common stockholders$ Shares outstanding 0 arnings per share

value: 20.00 points Prepare an income statement for Franklin Kite Co. Take your calculations all the way to computing earnings per share. (Round EPS answer to 2 decimal places.) Sales Shares outstanding Cost of goods sold Interest expense Selling and administrative expense Depreciation expense Preferred stock dividends Taxes $1,500,000 123,000 10,000 29,000 47,000 32,000 89,000 110,000
Franklin Kite Company Income Statement 0 0 0 0 Earnings available to common stockholders$ Shares outstanding 0 arnings per share
Franklin Kite Company Income Statement Cost of goods sold Depreciation expense Earnings after taxes Earnings before taxes Interest expense 0 0 0 0 Earnings available to common stockholders$ Shares outstanding 0 arnings per share
Franklin Kite Company Income Statement Interest expense 0 Preferred stock dividends 0 Taxes 0 0 Earnings available to common stockholders Shares outstanding Earnings per share 0
Franklin Kite Company Income Statement 0 Gross profit 0 Operating profit 0 0 Earnings available to common stockholders$ Shares outstanding 0 arnings per share

Answers

Srl No PARTICULARS AMOUNT ($) 1,500,000.00 410,000.00 Operating Profit (1-2) 1,090,000.00 32,000.00 47,000.00 Gross profit (3-4-5)1,011,000.00 29,000.00 Earnings before Taxes (6-7) 982,000.00 110,000.00 Earnings after Taxes (8-9)872,000.00 89,000.00 12 Earning available to common shareholders (10-11)783,000.00 123,000.00 6.37 1 Sales 2 Cost of goods Sold 4 Depreciation 5 Selling and Administrative Expenses 6 7 Interest Expenses 8 9 Taxes 10 11 Preffered stock dividends 13 Shares outstanding 14 Earning per share (12/13)

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