You are a summer intern at the office of a local tax preparer. To test your basic knowledge of financial​ statements, yo

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You are a summer intern at the office of a local tax preparer. To test your basic knowledge of financial​ statements, your manager gives you the following list of accounts LOADING... and asks you to prepare a simple income statement using those accounts.
a. Arrange the accounts into a​ well-labeled income statement. Make sure you label and solve for gross​ profits, operating​ profits, and net profits before taxes.
b. Using a 21% tax​ rate, calculate taxes paid and net profits after taxes.
c. Assuming a dividend of $1.08 per share with 4.16 million shares​ outstanding, calculate EPS and additions to retained earnings.
Question content area bottom
Part 1
a. Complete the income​ statement, down to the net profits before taxes​ line, below:  ​(Select the account names from the​ drop-down menus and round the amounts to two decimal​ places.)
Name of Company
Income Statement ($000,000)
1.
$
2.Gross profits
$
Less: Operating expenses
3.
$
4.
5.
6.
Total operating expense
$
Operating profits (EBIT)
$
7.
Net profits before taxes
$
Click the icon here in order to copy the contents of the data table below into a​ spreadsheet.)
Accounts
​($Millions)
Depreciation expense
25.12
General and administrative expenses
21.32
Sales
345.32
Sales expenses
17.01
Cost of goods sold
255.77
Lease expense
4.24
Interest expense
2.48