Solution-Construct a common size income statement

Construct a common size income statement

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Reference no: EM132646001

Question - From the Disney financial records provided below, construct the company's income statement:

1. Proceeds from sales are $3,210,000.

2. Cost of food sold $802,500.

3. Operating expenses are $1,050,000.

4. Depreciation of the equipment is $75,000.

5. Interest expenses that are already paid on the loans are $26,250.

6. The tax bracket for the restaurant is 35%.

Required - Construct a common size income statement by showing each line item of the income statement computed as a percentage of sales.

Reference no: EM132646001

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Construct a common size income statement

Reference no: EM132646001

Reference no: EM132646001

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