LALABS CORPORATION INCOME STATEMENT FOR THE YEAR ENDED DEC 31, 2019 Common Size Percentages Sales 11) 19) Less: Cost of Goods Sold 2,100,000 20) Gross Profit 1,400,000 21) Less: Selling Expenses 12)...

Complete the income statement of LALABS Corporation. Amount of some items and common size percentage are given. Round off your answers into two decimal places.LALABS CORPORATION<br>INCOME STATEMENT<br>FOR THE YEAR ENDED DEC 31, 2019<br>Common Size<br>Percentages<br>Sales<br>11)<br>19)<br>Less: Cost of Goods Sold<br>2,100,000<br>20)<br>Gross Profit<br>1,400,000<br>21)<br>Less: Selling Expenses<br>12)<br>5%<br>Administrative Expenses<br>13)<br>8%<br>Total Operating Expenses<br>14)<br>13%<br>Operating Income<br>945,000<br>22)<br>Less: Interest Expense<br>15)<br>1.20%<br>Net Income before Taxes<br>16)<br>23)<br>Less: Income Tax<br>17)<br>24)<br>Net Income after Taxes<br>18)<br>25)<br>

Extracted text: LALABS CORPORATION INCOME STATEMENT FOR THE YEAR ENDED DEC 31, 2019 Common Size Percentages Sales 11) 19) Less: Cost of Goods Sold 2,100,000 20) Gross Profit 1,400,000 21) Less: Selling Expenses 12) 5% Administrative Expenses 13) 8% Total Operating Expenses 14) 13% Operating Income 945,000 22) Less: Interest Expense 15) 1.20% Net Income before Taxes 16) 23) Less: Income Tax 17) 24) Net Income after Taxes 18) 25)

Jun 01, 2022
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