Answer
First, dividends are not part of sales revenue; thus, they are misplaced. Second, a note explaining the tax implication on other gains and losses is missing. Third, the income statement is not accompanied by notes expounding how the operational expenses were arrived at and their key components. Finally, the EPS is lacking in this income statement.
Work Step by Step
First, dividends are not part of sales revenue; thus, they are misplaced. Second, a note explaining the tax implication on other gains and losses is missing. Third, the income statement is not accompanied by notes expounding how the operational expenses were arrived at and their key components. Finally, the EPS is lacking in this income statement.
