Use the Financial Information Below to Calculate the Following:
A

Essay

Use the financial information below to calculate the following:
A.gross profit for each quarter.
B.net income for each quarter.
C.EPS for each quarter.
D.P/E ratio at the end of the year.
$$\begin{array} { l | r | r | r | r | } \hline & \mathbf { Q 4 } & \mathbf { Q 3 } & \text { Q2 } & \text { Q1 } \\\hline \text { Sales revenue } & \$ 901,800 & \$ 911,300 & \$ 909,600 & \$ 917,4 \\\hline \text { Cost of goods sold } & 304,500 & 317,100 & 316,700 & 321,9 \\\hline \text { Operating expenses } & 247,700 & 259,100 & 257,300 & 261,4 \\\hline \text { Interest expense } & 3,600 & 3,600 & 3,600 & 3,5 \\\hline \text { Income tax expense } & 84,300 & 87,200 & 87,200 & 89,7 \\\hline \begin{array} { l } \text { Average number of common shares } \\\text { outstanding }\end{array} & 793,030 & 788,064 & 789,670 & 803,0 \\\hline \text { Share price when Q4 EPS released } & \$ 24.00 & & & \\\hline\end{array}$$