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University Of New Mexico Operations And Supply Chain Management Assignment Help - Retained Earnings

Question - Retained Earnings 2010 2009 R/E @ the beginning 407,000 61,000 Add net income 395,000 373,000 Total 802,000 434,000 Deduct Dividends On preferred stock 3,000 3,000 On common stock 24,000 24,000 Total 27,000 27,000 R/E @ the End 775,000 407,000 Income Statements 2010 2009 GROSS sales 1,502,000 1,403,000 Returns & Allowances 2,000 3,000 NET sales 1,500,000 1,400,000 Cost of Goods sold 480,000 450,000 Gross Profit 1,020,000 950,000 Selling Expenses 300,000 275,000 Administrative Exp. 200,000 198,000 Total Op. Exp. 500,000 473,000 Income from Ops 520,000 477,000 Other Income 24,000 5,000 544,000 482,000 Interest expense 100,000 70,000 Income Before taxes 444,000 412,000 Income tax expense 49,000 39,000 Net Income 395 ...Read More

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