Company XYZ, Inc. reported a total sales revenue of P15,000,000 of which 20% pertains to the cost of goods sold. In addition, operating expenses in the most reporting period were P240,000 in salaries, P750,000 in rent, P300,000 in utilities and P150,000 in depreciation. Interest expense for the period amounted to P2,500,000. Tax rate is 30%. Determine the interest coverage ratio using EBIT.

Q: A high tech company reported sales of $220,000, cost of goods sold of $150,000 and inventory of…

A: Solution: Gross Profit is Sales minus Cost of goods sold. Sales - Cost of goods sold = Gross profit…

Q: A company has net sales of $770,300 and cost of goods sold of $556,300. Its net income is $21,910.…

A: Sales =  $770,300 Cost of goods sold = $ 556,300 Gross Margin = $ 214,000

Q: Shamrock Corporation had sales of $3,600,000 for the year ended December 31, 2027. The unit selling…

A: The income statement is an essential part of the company's financial statements. It indicates…

Q: Ever Manufacturers had sales of $900,000 in 2006 and their cost of goods sold represented 65 percent…

A: Given, Sales =$900,000 COGS =65% of sales = $900,000*65% = $585,000 Selling and Administrative…

Q: Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating expenses…

A:

Q: The Carlo Company’s Household Products Division reported in 2007 sales of P15,000,000, an asset…

A: Financial ratios are based on the relationship between two financial line items found in financial…

Q: During 2021, Wahid Co. generated revenues of $95,000. The company's expenses were as follows: cost…

A: Gross profit : Net sales is the sales revenue after deducting all the returns and allowances from…

Q: American Importers reports net income of $50,000 and sales revenue of S625,000. If the company's…

A: Cost of Goods Sold - Cost of Goods Sold is the cost incurred by the company for the sale. It…

Q: During the year, Belyk Paving Co. had sales of $2,380,000. Cost of goods sold, administrative and…

A: INCOME STATEMENT  Income Statement is one of the important financial statement of the company.…

Q: A retail company TGT has sales of $1,120,000 and total costs of $955,000, including depreciation and…

A: Profit margin = Net profit / Sales * 100

Q: XYZ Corporation earned $500,000 in revenue for the year. The cost of goods sold was $200,000, and…

A: Gross Profit: Gross profit represents the amount of revenue remaining after deducting the cost of…

Q: Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What…

A: Profit margin on sales is ratio of net profit on sales that is as follows: As per formula Profit…

Q: You are considering investing RM60000 in new equipment. You estimate that the net cash flows will be…

A: Equivalent annual cost is the cost of a project annually for the time period of its completion. This…

Q: During 2015, Parker Enterprises generated revenues of $90,000. The company's expenses were as…

A: Gross profit : Difference between the sales and the cost of goods sold is called gross profit .

Q: For the past year, shame ltd., had sales of $45,002, interest expense of $4,306, cost of goods sold…

A: One of a business's performance accounts, an income statement, commonly referred to as a profit and…

Q: What is the net income for the current year?

A: Net income refers to net result or net earnings or net profit of an enterprise which is calculated…

Q: During 2015, Al-Ahd Corp. had sales of $950,000. Cost of goods sold, administrative and selling…

A: The term gross profit represents gross earnings generated after subtracting all production costs…

Q: Sales is 160% of Cost of Goods Sold. The company had a profit after tax of (40,000). If tax rate is…

A: The gross profit represents the profit earned by the company before deducting the expenses from the…

Q: ABC company recorded a net loss of P215,000 for the year just ended. Total operating expenses was…

A: Gross profit = net income(loss) + Total operating expenses  Net sales = Gross profit + cost of sales…

Q: A company sells 180,000 (sale price) of goods and collect sales tax of 8%. What current liability…

A: Current liability means the amount which the business has the obligation to pay within short term…

Q: During the current period, Gleason Technology records total sales of $850,000, with a cost of…

A: Calculate  net sales for the Gleason Technology during the current period:

Q: Compute the income after income tax given the following: Net Sales of 100,00,00.00; Marketing…

A: Given Information: Net Sales = 100,000,000 Marketing Expense = 5,000,000 Tax Rate = 30% Income after…

Q: a. What is the company's net income? (A negative answer should be indicated by a minus sign. Do not…

A: The operating cash flow shows how well a business can produce cash from its main operations. With…

Q: Cushman company had $836,000 in sales, sales discounts of $12540, sales returns and allowances of…

A: Net Sales :— It is calculated by deducting sales discount and sales return & allowance from…

Q: LMM Company’s total assets at the end of last year were P405,000 and its earnings before interest…

A: Total assets = P405,000 EBIT = P52,500

Q: HHH Inc. reported $11,750 of sales and $7,025 of operating costs (including depreciation). The…

A: EVA means economic value added by business over the period. This is calculated by deducting weighted…

Q: Compute the rate of ROA for 2008 and disaggregate ROA into profit margin for ROA and asset turnover…

A: Calculate profit margin: Profit margin = Income + Interest expense ( 1- Tax) + Minority interest /…

Q: Company X reports $200,000 in sales of Widgets in 2019. The Costs of Goods sold for these Widgets is…

A: We have to find the Gross Profit Margin and Operating Margin, based on the select financials…

Q: Cushman Company had $820,000 in sales, sales discounts of $12,300, sales returns and allowances of…

A: Income statement is one of the financial statement that shows profitability, total revenue and…

Q: Diamond, Inc. had the following Income Statement at the end of the year. Compute Diamond's federal…

A: Gross profit. = $ 69000 Less salaries = $31000 Less rent. = $ 2000 Less business meal With clients.…

Q: A firm reported the following income statement (all figures are in thousands of dollars):   Net…

A: Tax is charged on the net earnings after deduction of all operating and finance costs. EBT or…

Q: In 2025, Dollar Time Corporation earned sales revenues of $1,320,000 with related cost of goods sold…

A: Gross profit is calculated by subtracting the cost of goods sold from the sales revenues.Given:Sales…

Q: Evening Story Corporation has sales of $4,944,222; income tax of $571,164; selling, general, and…

A: Gross Profit = Sales − Cost of Goods SoldGiven the data:Sales: $4,944,222Cost of Goods Sold:…

Q: Riyadh Ltd. generated total sales of $32,565,420 during fiscal 2021. Depreciation and amortization…

A: The net income after taxes is the efficiency of the company to generate the in-hand profit from the…

Q: Deton pen Manufacturers sales= $980,000 cost of goods sold represented 64 percent of sales.…

A: Net income of an firm can be calculated by subtracting the cost of goods sold and other expenses…

Q: For the past year, Momsen Limited had sales of $47362, interest expense of $4,566, cost of goods…

A: Net income is the amount of money earned by the entity after deducting all the expenses from the…

Q: During the year, cost of goods sold was $120,000; income from operations was $114,000; income tax…

A: The cost of goods sold means the total amount of direct costs that are related to the production of…