Question

Supply the missing dollar amounts for the 2017 statement of earnings of Ultimate Style Company for each of the following independent cases:

Case A Case B Case C Case D Case E

Sales Revenue 1260 1060 770 ?? ??
Selling expense ?? 204 134 454 304
cost of sales ?? 560 ?? 590 490
Income tax expense ?? 120 74 130 48
Gross profit 670 ?? ?? ?? 620
Earnings before income tax 326 198 ?? 316 ??
Administrative expense 240 ?? 114 190 170
Net Earnings 242 ?? 68 ?? 98

can you please show how you came up with each value

Answer 1

	Case A	Case B	Case C	Case D	Case E
Sales revenue	$1,260	$1,060	$770	$1,550 ($590+$960)	$1,110 ($490+$620)
Cost of sales	$590 ($1,260-$670)	$560	$380 ($770-$390)	$590	$490
Gross profit	$670	$500	$390 ($134+$114+$142)	$960 ($454+$190+$316)	$620
Selling expense	$104 ($670-$240-$326)	$204	$134	$454	$304
Administrative expense	$240	$98 ($198-$204)	$114	$190	$170
Earnings before income tax	$326	$198	$142 ($74+$68)	$316	$146 ($620-$304-$170)
Income tax expense	$84 ($326-$242)	$120	$74	$130	$48
Net earnings	$242	$78 ($198-$120)	$68	$186 ($316-$130)	$98