Prepare a multi-step Income Statement for the year ending 12/31/12 with proper heading.

Required:

1. On a spreadsheet, prepare a multi-step Income Statement for the year ending 12/31/12 with proper heading. See link below for sample income statement.  Near the bottom of your income statement should have a subtotal for Income before taxes and then subtract taxes to compute Net income. Net income should have a double underline.
2. On the same spreadsheet, prepare a Statement of Retained Earnings for the year ending 12/31/12 with proper heading. See link below for sample statement of retained earnings. There are no adjustments to retained earnings and ending retained earnings should have a double underline.
3. On the same spreadsheet, compute the gross profit margin, operating income margin, and net profit margin for 2012, showing the numerator and denominator for all ratios. Take ratios out to the nearest hundredth of a percentage (e.g., 33.33%).
4. On the same spreadsheet, write a paragraph analyzing each of the profitability ratios for Jackson, Inc. given the following information from previous years and competitors.

Prepare a multi-step Income Statement for the year ending 12/31/12 with proper heading.