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

Question

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

Quizplus · Accepted Answer

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

Complete the Following Income Statement for the Dollar Amounts and the Component