Drill 18 ·
AP Business with Personal Finance: Income Statement (Drill 18) is a practice drill. It contains 5 original questions created by Brian Stewart, a Barron's test prep author with over 20 years of tutoring experience.
Practice with a numbered income statement that hides several lines: identifying categories, calculating net profit margin, applying a hypothetical expense change, and choosing the clearest investor-facing statement of profitability. This drill uses an invented company and original figures.
Marisol's Bakery, Inc. sells baked goods to cafes. Its income statement is shown below, in thousands of dollars. Several lines are unlabeled.
| Line | Item | Amount |
|---|---|---|
| 1 | Revenue | 250 |
| 2 | Cost of Goods Sold | (150) |
| 3 | Line 3 | 100 |
| 4 | Operating Expenses | (60) |
| 5 | Line 5 | 40 |
| 6 | Interest and Taxes | (10) |
| 7 | Line 7 | 30 |