Financial Information Skills Test-2

Let's see if you've got your ducks in a row regarding Financial Information.

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XYZ reports the following amounts in its year end income statement:

Net sales 700,000 Salaries & Wages 240,400
Interest expense 13,200 Utilities expense 21,200
Cost of goods sold 385,940 Sales discounts 3,850
Advertising expense 25,600 Sales returns 4,150

Dividends declared at year end $5,000
Income Tax Rate 10%

Using the above information select the appropriate dollar amount for the following questions: Note: Paper, pencil, and a calculator will aid you in calculating the correct amounts.
Hint: Preparing an Income Statement will help you with the answers to the questions.

Give the test a try on your own; but, if you need to see the results, check out the Financial Information I prepared for you.

Question .


Select the Correct Amount from the list above