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e Secure https,/www.mathal.com/Student/Playertiomework anpsthomeworkld-48489744questionld 18flushed falvedcld 50298718centerwin yes ACCT 23O1.WP oseph Herman&1 71418 7 42 AM Homework: Chapter 04 Homework Score: 0 of 2 pts S4-11 (similar to) MN Score: 0%, 0 of 8 pt The accounting reconds for Children\'s Toys, inc, reflected the following amounts at the end of March 2016 ?[CSok the Kon to view te accounts ) Prepare Children\'s Toya\'s muis-step income statement for the fiscal year ended March 31. 2016 (Use a minus sign or parentes for a loun ) Children\'s Toys, Inc ncome Statement Year ended March 31 2016 Data Table s 20.500 25,500 2.200 2,000 .400 ,600 2.500 Conl of goods sod Total operating expenses Accounts payable otal stockholders\' equity Long-term notes paryabe Inventory 100 Equipment, net 600 Accned sabi 6,600 Net sales nevenue Operating income Goss) 21,000 Accounts receivable 2.500 Prepaid rent Net income (loss) 100 Intenest expense Print Done e from any list or enter any number in the input fields and then click Check Answer s showing O Type here to search Clear Al 7A

Solution

Children\'s Toys\'s

Income Statement

For the year ended March 31, 2016

Sales	32,000
Less: Cost of goods sold	- 20,500
Gross profit	11,500
Less: Operating expenses	- 4,100
Profit before interest and tax	7,400
Less: Interest expense	- 200
Profit before tax	7,200