Question 20 Income Statement for Bearcat Hathaway, 2022 Sales Less Cost of Goods Sold Gross Profit Less General & Administrative Expenses $1,438,438. Less Depreciation $2,656,922 Earnings Before Interest and Taxes $3,433,900 Less Interest Paid $924,283 Taxable Income (or Earnings Before $2,509,625 Taxes) Less Taxes (21 % Tax Rate) $527,021 Net Income $1,982,604 Dividends $312,519 If dividends paid are $312,519, calculate the addition to retained earnings. O $924,283 O $9,687,481 $10,000,000 $2,470,732 $7,529,268 O$1,058,321 O $7,704,877 O $1,670,085
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![Question 20
Income Statement for Bearcat Hathaway, 2022
Sales
Less Cost of Goods Sold
Gross Profit
Less General & Administrative
Expenses
$10,000,000
$2,470,732
$7,529,268
$1,438,438
$2,656,922
$3,433,908
$924,283
$2,509,625
$527,021
$1,982,604
$312,519
If dividends paid are $312,519, calculate the addition to retained earnings.
Less Depreciation
Earnings Before Interest and Taxes
Less Interest Paid
Taxable Income (or Earnings Before
Taxes)
Less Taxes (21% Tax Rate)
Net Income
Dividends
$924,283
$9,687,481
$1,058,321
O $7,704,877
O $1,670,085
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- Income Statement for Bearcat Hathaway, 2022 Sales Less Cost of Goods Sold Gross Profit Less General & Administrative Expenses $10,000,000 $2,470,732 $7,529,268 $1,438,438 $2,656,922 $3,433,908 $924,283 $2,509,625 $527,021 $1,982,604 $312,519 Less Depreciation Earnings Before Interest and Taxes Less Interest Paid Taxable Income (or Earnings Before Taxes) Less Taxes (21% Tax Rate) Net Income Dividends Calculate the operating cash flow. $6,090,830 $1,304,007 $3,433,908 $5,563,809 O $1,982,604A 2 Category 3 Sales 4 Cost of Goods Sold 15 a. Calculate ROA for current values. 16 Note: Round your answers to 2 decimal places. 17 18 SPM Outputs 19 Gross Profit 20 B Current Input Values $3,237,000.00 $2,490,000.00 $415,000.00 $161,850.00 $465,000.00 $162,000.00 $546,000.00 $492,000.00 5 Variable Expenses 6 Fixed Expenses 7 Inventory 8 Accounts Receivable 9 Other Current Assets 10 Fixed Assets 11 12 Required: 13 Note: Use cells A2 to C10 from the given information to complete this question. 14 Total Expenses 21 Net Profit 22 Net Profit Margin 23 Current Assets 24 Total Assets 25 Asset turnover 26 ROA (%) 27 28 b. Calculate ROA for new values. 29 Note: Round your answers to 2 decimal places. 30 31 SPM Outputs 32 Gross Profit 33 Total Expenses 34 Net Profit 35 Net Profit Margin 36 Current Assets 37 Total Assets 38 Asset turnover 39 ROA (%) 40 41 42 C New Input Values $3,560,700.00 $2,490,000.00 $383,875.00 $161,850.00 $395,250.00 $162,000.00 $546,000.00 $492,000.00 D E F TI G H I J K…W. Region E. Region Stock Inc. Darby Corp $ Cost of goods sold 590,000 1,050,000 301,000 200,000 + Operating income (loss) + $ + $ + Cust-level oper. costs 54,110 50,670 35,250 29,600 Total = Total customer-level costs 644,110 1,100,670 336,250 229,600 = || || GA GA CA Now prepare a customer-cost hierarchy report. (Use parentheses or a minus sign to enter an operating loss. Abbreviations used: W. = West; E. = East; Dist. = Distribution; oper. = operating; inc. = income.) EA Customer Distribution Channels Wholesale Customers Total W. Region E. Region Wholesale Wholesaler Wholesaler Retail Customers Total Retail Stock Inc. Darby Corp
- i need Part B solution Part A here solution Computation of net income: Net sales 680,400 Less: cost of goods sold (327,600) Gross profit 352,800 Less: administrative expense (126,000) Less: selling expense (100,800) Operational income 126,000 Discontinued operations (loss before income tax) (50,400) Income before tax 75,600 Less: income tax (30%) (22,680) Net income 52,920 Hence, net income for 2022 is calculated as €52,920.00 Chapter 1 PROBLEM 1-19 Traditional and Contribution Format Income Statements L01-6 Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales..... Beginning merchandise inventory. Purchases..... 1. 2. 3. 4. 5. 6. Ending merchandise inventory Fixed selling expense...... Fixed administrative expense. Variable selling expense. Variable administrative expense Contribution margin. Net operating income $300,000 $20,000 $200,000 $7,000 ? $12,000 $15,000 ? $60,000 $18,000 Required: Prepare a contribution format income statement. Prepare a traditional format income statement. Calculate the selling price per unit. Calculate the variable cost per unit. Calculate the contribution margin per unit. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Why?Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales S687,000 $922,500 COGS ? 478,500 654,000 Gross profit 324.100 456.000| Operating expense 299,500 354,200 Operating income ? ? 94.500 30. $ sold For case 1, determine cost of goods 31. $ For case 1, determine operating income (include “-“ if needed) 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income “_“ if needed) 34. $ For case 3, determine net sales 35. $ For case 3, determine operating expense
- Cost of goods sold $445000 Income tax expense 66000 Operating expenses 341000 Sales 1000000 The profit margin would be 55.5%. 14.8%. 44.5%. 21.4%.90 Marston Corporation Statement of Income for the Year Ending December 31, 2022 Using Sales Agents Using Own Sales Force $26,000,000 Sales Cost of goods sold Variable Fixed Gross margin Marketing costs Commissions Fixed costs Operating income $11,700,000 2,870,000 4,680,000 3,420,000 $26,000,000 14,570,000 11,430,000 8,100,000 $ 3,330,000 $11,700,000 2,870,000 2,600,000 5,500,000 14,570,000 11,430,000 8,100,000 $ 3,330,000 Marston is considering hiring its own sales staff to replace the network of agents. Marston will pay its salespeople a commission of 10% and incur additional fixed costs of $2,080,000. 4 Required 1. Calculate Marston Corporation's 2022 contribution margin percentage, breakeven revenues, and degree of operating leverage under each of the two scenarios. (You will first have to recast the 2022 statement of income assuming Marston had hired its own sales staff.) 2. Describe the advantages and disadvantages of each type of sales alternative. 3. In 2023, Marston uses its…i need Part B solution Part A here solution Computation of net income: Net sales 680,400 Less: cost of goods sold (327,600) Gross profit 352,800 Less: administrative expense (126,000) Less: selling expense (100,800) Operational income 126,000 Discontinued operations (loss before income tax) (50,400) Income before tax 75,600 Less: income tax (30%) (22,680) Net income 52,920
- 202112.02 03:04 Underslallu T-ALand understand the fIve lu P 32,200 33,050 200 04 Cost Accounting Chapter 7 Accounting for Materials 20 Problem 4 An invoice for X, Y, and Z is received from Heavyweight Co. Invoice totals are: X- P 125,000; Y -P 75,000%; Z - P100,000, The freight charges on this shipment of 18,000 pounds total P7,500. Weights for the respective materials are 10,000, 6,000, and 7,500 pounds. Required: 1. Cost per pound to be entered on the stock cards for each materials, based on Problem 7 The Bedrock Company is a manufacturer of golf clothing. During the monthNhe company cut and assembled 10,000 golf jackets. One hundred of the jackets dic not meet specifications and were considered "seconds." Seconds are sold for P1,00T00 per jacket, whereas first quality jackets sell for P2,500.00. During the month, Wo in Process was charged for P3,600,000 of materials, P4,000,000 of labor, and fary overhead is applied at 120% of direct labor (including allowance of 20% of dilect.…27 A1 CORPORATION, INC. Income Statement For the Year Ended December 31, 2026 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income Using vertical analysis, what percentage is assigned to cost of goods sold? OA) 37.5% B) 100% OC) 62.5% $240 150 90 65 $25 D) 50%wo years. EXERCISE 15-2 Financial Ratios for Assessing Liquidity LO15-2 ending December 31 appear below. The company did not issue any new common stock during the payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was this year was $18. All of the company’s sales are on account. year Deceof 800,000 shares of common stock were outstanding, The interest rate on the bond year. $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash .... $ 1,280 $ 1,560 Accounts receivable, net 12,300 9,100 Inventory .... 9,700 8,200 Prepaid expenses 1,800 2,100 Total current assets 25,080 20,960 Property and equipment: Land ..... 6,000 6,000 Buildings and equipment, net .. 19,200 19,000 epeA Total property and equipment ... 25,200 25,000 Total assets $50,280 $45,960 Liabilities and Stockholders' Equity Current…
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