ElectroWizard Company produces a popular video game called Destructo which sells for $65. Last year ElectroWizard sold 100,000 Destructo games, each of which costs $10 to produce. ElectroWizard incurred selling and administrative expenses of $200,000 and depreciation expense of $100,000. In addition, ElectroWizard has a $1,000,000 loan outstanding at 8%. Their tax rate is 40%. There are 400,000 common shares outstanding.
Prepare an income statement for ElectroWizard in good form (include EPS).

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The Answer of ElectroWizard Company produces a popular video game called Destructo which sells for $65. Last year ElectroWizard sold 100,000 Destructo games, each of which costs $10 to produce. ElectroWizard incurred selling and administrative expenses of $200,000 and depreciation expense of $100,000. In addition, ElectroWizard has a $1,000,000 loan outstanding at 8%. Their tax rate is 40%. There are 400,000 common shares outstanding.
Prepare an income statement for ElectroWizard in good form (include EPS).

ElectroWizard Company Produces a Popular Video Game Called Destructo Which