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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
Selling, General & Admin Exp
11,200,000
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