Turnip Tom's Inc. Financial Analysis
A detailed statement of Turnip Tom's Inc. shows the company's first-year accounting profit. An accounting profit is a total revenue subtracted from the explicit cost (Thomas & Maurice, 2010).
In order to calculate the accounting profit one has to add operating costs and expenses. The goal is to understand the gross profit, these details on the income statement improve the practice of managers improve upon their product (Shah, 2011).
Cost of products sold at twelve-five-hundred added to selling expenses at five-thousands-five equals eighteen-thousands. In addition, the administrative expenses are added to both the product sold and selling expenses, which is an additional five-thousands-two-hundred-dollars comes to a total of twenty-three-thousands-two-hundred
In order to calculate the accounting profit one has to add operating costs and expenses. The goal is to understand the gross profit, these details on the income statement improve the practice of managers improve upon their product (Shah, 2011).
Cost of products sold at twelve-five-hundred added to selling expenses at five-thousands-five equals eighteen-thousands. In addition, the administrative expenses are added to both the product sold and selling expenses, which is an additional five-thousands-two-hundred-dollars comes to a total of twenty-three-thousands-two-hundred