Business, 03.09.2021 16:30, jessied2000

General Ledger for ABC Company The following is the general ledger for ABC Company as of December 31, 20X1. Use this information to answer questions (1) through (4). ABC Company General Ledger As of December 31, 20X1 Amount Assets Cash $29,400 Accounts receivable 8,100 Supplies 4,900 Prepaid rent 20,200 Equipment (net) 63,800 Liabilities Accounts payable $ 6,300 Salaries payable 4,000 Interest payable 1,100 Utilities payable 3,700 Bonds payable 38,400 Stockholders' equity Common stock $60,900 Retained earnings 0 Dividends 2,100 Revenues Sales revenue $54,200 Interest revenue 1,400 Expenses Cost of goods sold $15,100 Salaries expense 7,100 Rent expense 4,900 Supplies expense 1,300 Utilities expense 4,800 Depreciation expense 2,500 Interest expense 2,100 Income tax expense 3,700 a. What is the amount of gross profit to be reported on ABC Company's 12/31/X1 income statement?
b. What is the amount of operating income (EBIT) to be reported on ABC Company's 12/31/X1 income statement?
c. What is the amount of earnings before taxes (EBT) to be reported on ABC Company's 12/31/X1 income statement?
d. What is the amount of net income to be reported on ABC Company?s 12/31/X1 income statement?

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General Ledger for ABC Company The following is the general ledger for ABC Company as of December 31...