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The ceo of smart phone cases llc is preparing a loan

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Reference no: EM13486057

The CEO of Smart Phone Cases, LLC is preparing a loan application to be used for expansion. Using the data below (only), prepare an Income Statement. Within this Income statement, include totals for Cost of Goods Sold, Gross Margin, Sales General, and Administrative, Earnings before Interest and Taxes, Pretax Income, and Net Income. Also compute the Profit Margin on Sales =Net Income / Revenue. Provide Spreadsheet.

Price each

$19.95

Quantity Sold

50,000

Production Labor Costs each unit

$8.25

Material Costs each unit

$2.00

Labor Overhead

35%

of labor

Marketing

$45,000

Depreciation

$8,000

Research and Development

$18,000

Administrative

$52,000

Interest Expense

$2,600

Taxes

25.0%

of pretax Income

Reference no: EM13486057

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