3. XYZ Company had the following income statement data for 2021 - sales $100,000, cost of goods sold $40,000, selling ge

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3 Xyz Company Had The Following Income Statement Data For 2021 Sales 100 000 Cost Of Goods Sold 40 000 Selling Ge 1 (21.08 KiB) Viewed 42 times

3. XYZ Company had the following income statement data for 2021 - sales $100,000, cost of goods sold $40,000, selling general and administrative expenses $20,000, depreciation expense $10,000 and interest expense $10,000. XYZ's tax rate is 30%. A. Construct an income statement for XYZ Company that details gross profit, operating profit, profit before tax and net income or profit. B. Calculate the gross profit %, the operating profit % and the net profit %