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ICS Manufacturing Company Case Study
ICS Manufacturing Company produces plastic parts for the automotive industry. Here is their Income Statement for 2015 –
ICS Manufacturing Company
Income Statement for 2015 Sales Revenue $ 35,500,000 Cost of Goods Sold 12,725,000
11,200,000
Selling, General & Admin Exp
Depreciation Expense |
3,200,000 |
EBIT |
8,375,000 |
Interest Expense |
350,000 |
Taxable Income |
8,025,000 |
Taxes |
3,210,000 |
Net Income |
4,815,000 |