Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $151,600, selling expenses of $38,270, general and administrative expenses of $34,620, interest expense of $730, and income tax expense of $17,492. Holly's stockholders' equity was $305,000 at the beginning of the year and $365,000 at the end of the year. The company has 25,000 shares of stock outstanding at the end of …
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