FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- During the past year, the company’s financial results reflected the following: Selling, general, and administrative expenses of 200,000 Net sales of 1,200,000 Interest expense of 100,000 Research & development expense of 50,000 Cost of goods sold of 800,000 Income tax expense of 17,500 Calculate gross profit $ for the year.arrow_forwardNet Income and OCF During the year, BelykPaving Co. had sales of $2,600,000.Cost of goods sold.administrative and sellingexpenses,and depreciationexpense were $1,535,000,$465,000,and $520.000respectively. In addition,the company had an interesexpense of $245,000 and a tax rate of 35 percent. (lgnoreany tax loss carryback or carryforward provisions.忽略税收)a. What is the company's net income?b. What is its operating cash flow?c.Explain your results in parts (a) and (b).arrow_forwardABC Inc. had the following data for last year: Net income = $1000; Net operating profit after taxes (NOPAT) = $900; Total assets = $3,200; and Total operating capital = $2,200. Information for the just-completed year is as follows: Net income = $1,300; Net operating profit after taxes (NOPAT) = $1225; Total assets = $2,900; and Total operating capital = $2,800. How much free cash flow did the firm generate during the just-completed year?arrow_forward
- The Oscar Meyer Corporation earned $33 million in 2019 on sales of $450.5 million. The company's balance sheet also listed current assets of $27 million, and fixed assets of $378 million. What is the firms Return on Assets (ROA)? a. 0.211 b. 0.201 O c. -0.029 d. -0.049 e. 0.081arrow_forwardNet income?arrow_forwardIn a recent year, Cullumber Corporation had net income of $746000, interest expense of $146000, and a times interest earned ratio of 9. What was Cullumber Corporation's income before taxes for the year? Select answer from the options below $1168000 $943111 $1460000 $1314000arrow_forward
- In a recent year Ley Corporation had net income of $150,000, interest expense of $30,000, and a times interest earned ratio of 7. What was Ley Corporation's income before taxes for the year?arrow_forwardIf Net Working Capital Current Assets - Current Liabilities, what is Kelley Corp's net working capital for the year ending December 31, 2023, given the following account balances? Accounts Receivable: $40 Equipment: $20 Accumulated Depreciation: $10 Patent: $50 Inventory: $15 Accounts payable: $30 Goodwill: $65 Long-term note payable: $70 =arrow_forwardpm.6arrow_forward
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