Webby Corporation reported the following amounts on its income statement: service revenues, $32,500; utilities expense, $300; net income, $1,600; and income tax expense, $900. If the only other amount reported on the
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- Webby Corporation reported the following amounts onits income statement: service revenues, $32,500; utilities expense, $300; net income, $1,600; and income taxexpense, $900. If the only other amount reported on theincome statement was for selling expenses, what amountwould it be?a. $2,200 c. $30,000b. $29,700 d. $30,900Below is financial information ($ values are in millions) in a model. Net income during the year for this company would be: Revenues SG&A Expenses Interest Expense Select one: OA. $4.5 million OB. $3.6 million O C. $16.6 million OD. $0.9 million $67.30 $4.70 $8.10 Cost of Goods Sold Depreciation Tax Rate $43.20 $6.80 20%Your emall WIII be recorded when you Supmit this fOTm zSg/formResponse?pli=1 * Required Assume that Dillards Inc. reported operating income of $5.2 million, $1.75 million in other income and gains (except equity earnings), $3.65 million in other expenses and losses, and a tax rate of 40%. 1. Using the information given above for Dillards Inc, what is the net income of the company? * A) $5.2 million B) $3.3 million C) $1.98 million D) $1.32 million E) None of the above
- Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.Carrefour Company's gross profit is OMR 550,000. The other balances are: Insurance OMR 70,000, Rent received OMR 50,000, Salaries and wages OMR 65,000, Advertisement OMR 20,000 and Utilities OMR 35,000. In this case, the Net income before interest and tax will be: O a. None of these O b. OMR 445,000 O c. OMR 460,000 O d. OMR 410,000Hsu Company reported the following on its income statement: Income before income taxes Income tax expense Net income $356,883 107,065 $249,818 Interest expense was $73,432. Hsu Company's times interest earned ratio (rounded to two decimal places) is Oa. 5.86 times Ob. 3.4 times Oc. 4.86 times Od. 2.4 times
- how did they get the Income Before Tax? Proforma Income Statement 1/31/21 Total Revenue $ 28,959,000.00 Cost of Goods $ 15,299,000.00 Gross Profit $ 11,535,000.00 Operating Expenses $ 7,609,000.00 Total Operating Expenses $ 7,609,000.00 Operating Income or Loss $ 3,926,000.00 Interest Expense $ 434,000.00 Income Before Tax $ 3,644,000.00 Income Tax Expense $ 963,000.00 Income from Continuing Operations $ 2,681,000.00 Net Income $ 2,681,000.00Question 1:- Brodsky's Corporation had net sales of 2600000, Sales discounts 45000, cost of goods sold 1440000, Notes receivable 115000, A/R 15000, other expenses 100000, administrative expenses 206000, with drawls 47000, selling expenses 280000, and interest expense 29000, other revenues 500000 . Brodsky's tax rate is 30%. R/Prepare income statement for the year ended December 31, 2014.For this question, calculate all values to 2 decimal places of £M (e.g. £123.45M) unless otherwise specified, and all ratios to 2 decimal places of percentage (e.g. 9.87%). You are given the following income statements and balance sheets for Freddie M Corporation for fiscal years 2045 and 2046 (all figures are in £ million), Income Statement Balance Sheet Sales Cost of goods sold Gross margin Wage & salaries expense Depreciation expense Earnings before interest and tax Interest expenses Taxes Net income Dividends Change in shareholder's equity Assets: Cash & equivalents Receivables Inventories Current Assets Property, plant & equipment Accumulated depreciation Net property, plant & equip Total Assets 2045 400.00 -200.00 200.00 -50.00 -25.00 125.00 -25.00 -60.00 40.00 -16.00 24.00 2045 2046 480.00 -240.00 240.00 -60.00 -25.00 155.00 -20.00 -70.00 65.00 -26.00 39.00 2046 Liabilities: 30.00 36.00 Payables 60.00 Short-term debt 50.00 50.00 60.00 Long-term debt 130.00 156.00 Total…
- Given the following information :sales R10 000 000,calculated gross profit R7 000 000 ,operating expenses R3 200 000,Interest income R60 000,Interest expense R250 000 and income tax 28% of profit before tax . Net profit after tax is ?Niantic reported the following financial information (amounts in millions). $ 8,550 11,977 950 4,900 201 Current assets Total assets Current liabilities Net sales Net Income Compute the current ratio and profit margin. Note: Round your answers to 2 decimal places. Current ratio Profit margin %Using the financial data for Key Wahl Industries Sales Net Profit After Tax Total Assets Total Liabilities O.50 02 O.75 $4,500,000 What is the debt ratio? O.075 $337,5000 $6,750,000 $ 3,375,000