Shinas co has the following condensed income statement, Ask an Expert

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Shinas Co. has the following condensed income statement items for the year ended December 31, 2015: sales of OR 7,250,000; operating expenses of OR 1`,500,000; cost of goods sold of OR 4,000,000; and interest expense of OR 300,000. The Company pays, on taxable income, a flat rate of 12% as income tax and has 100,000,000 of common stock outstanding. Instructions:

1. Prepare income statement in a proper format for Shinas Co.

2. Calculate the times interest earned ratio.

3. What is the earning per share for the year 2015?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92782397

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