Question: The 2007 income statement for Lozier Company is shown below:
|
Net sales
|
$189,060
|
|
Cost of goods sold
|
135,780
|
|
|
53,280
|
|
General and administrative expenses
|
38,920
|
|
|
14,360
|
|
Interest expense
|
240
|
|
|
14,120
|
|
Income tax expense
|
5,648
|
|
|
8,472
|
|
Discontinued operations
|
2,804
|
|
|
5,668
|
Required:
[A] Calculate Lozier's gross profit?
[B] Calculate Lozier's income from operations?
[C] Calculate Lozier's income before income tax?
[D] Calculate Lozier's income from continuing operations?
[E] Calculate Lozier's net income?