Mattie's Mums and More is a budding flower business. Review their Income Statement to answer the questions. 1. What is Mattie's Gross Profit? 2. What is the company's Operating Income? 3. What is the Net Income for Mattie's Mums and More?
Q: James Henderson is the president of York Athletics, a producer of hats and jerseys and other…
A: Financial accounting can be defined as the process of recording, summarizing, and reporting the…
Q: Karen and Yanique are opening a jewellery store with no competition in the area from which they…
A: Answer 1) The main advantages of selecting a corporate form of business: Corporation has…
Q: Chloe and Martin are opening a Shoe Store to be registered as CM Shoe Store. There is no other…
A: Journal Entries: What is meant by Journal Entries? It is the first step to record the financial…
Q: How much is the Starting Capital/loan when doing a business plan for a coffee shop? (What are the…
A: There's something different altogether to a business than products and office space. Especially…
Q: Income Statement data for Lisa Enterprises is as follows: Professional fee income is RO 20000;…
A: The Net Income or Net profit is computed as Revenue/Income Less Expenses. It is the profit available…
Q: You run into Greg Norman at a party and begin discussing financial statements. Greg says, “I prefer…
A: Given is: You run into Greg Norman at a party and begin discussing financial statements. Greg says,…
Q: Chloe and Martin are opening a Shoe Store to be registered as CM Shoe Store. There is no other…
A: SOLUTION- PARTNERSHIP IS A FORMAL ARRANGEMENT BY TWO OR MORE PARTIES TO MANAGE AND OPERATES A…
Q: Koreen and Yolanda are opening a jewellery store with no competition in the area from which they…
A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…
Q: Answer the following questions for the Mulatto brothers.
A: The answers to the questions by Mulatto Brothers are discussed hereunder : Note : Dear student,…
Q: After investigating the different forms of business organization, Natalie Koebel decides to operate…
A: The question is based on the concept of Accounting theory. As per the Bartleby guidelines we are…
Q: Eric is going to set up sole trader business as Decorator. he knows that he will be responsible for…
A: Business refers to an enterprise or the firm who is involved or engaged in performing the commercial…
Q: Which of the ollowing dOEs Söld in its income statement? Why? LAW Firm SARI- SARI STORE Water…
A: The income statement is one of the important financial statements of the business.
Q: Using the accounting equation to analyze transactions As the manager of a Papa Sean’s restaurant,…
A:
Q: The two queens of Lockdown Kingdom, Queen Corona and Queen Covid came together to form a business,…
A: Net profit or loss is the result of operations done in an organization.
Q: What was the economic profit or loss of Julian’s online clothing store in 2019? E. Evaluate the…
A: Economic Profit is the Profit earned by any Person after subtracting the actual costs incurred to…
Q: Lokalalo is a New Zealand company helping Kiwi families redesign their homes. The balance date is 31…
A: Ratios help in comparing the financial statements of 2 or more companies. Step 2 The profitability…
Q: What are five advantages of choosing the corporate form of a business. Do you suggest that they…
A: Given information is: Brianna and Britney are two sisters opening a clothing store with no other…
Q: aren and Yanique are opening a jewellery store with no competition in the area from which they…
A: 1) Advantages of Corporate form of business. (a) Easy to Raise Capital - In the corporation…
Q: he statement c. Explain the Difference between Revenue and Other operating income - Provide one…
A: Revenues are the income generated by the entity from the primary business activities. When operating…
Q: They seek your advice.
A: Given information is: Karen and Yanique are opening a jewellery store with no competition in the…
Q: Matthew Mulatto and his brother John Mulatto plans to open a business. The major decision they face…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Marti
A:
Q: Karen and Yanique are opening a jewellery store with no competition in the area from which they…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Karen and Yanique are opening a jewellery store with no competition in the area from which they…
A: Since you have asked multiple questions, we will solve the one question for you. If you want any…
Q: Problem 1: Compute for the profitability ratios of both Ellane and meLanie. Which of the two…
A: Ratio analysis is an important part of interpreting the performance of financial accounts. It…
Q: Coast Hardware and Fashion Center are sole proprietorships of similar size. Also, both businesses…
A: The income statement is the one in which all the revenue and expenses are stated and used for the…
Q: Questions related to the Statement of Profit or Loss a. Revenue is the income generated from normal…
A: SOLUTION-A EMIRATES IS AN INTERNATIONAL AIRLINE COMPANY . IT IS AN AIR TRAVEL SERVICE PROVIDER . IT…
Q: How much is the opportunity cost associated with starting the new business?
A: Opportunity Cost: Opportunity cost means the cost of missed opportunity. It refers to the…
Q: Mattie's Mums and More is a budding flower business. Review their Income Statement to answer the…
A: Solution:- Computation of Workings as follows under:-
Q: Word has gotten around that you know accounting and can explain it well. Jim, another of your…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: State three (3) of the main advantage they gain by selecting a corporate form of business now. Would…
A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: What does proceeds mean in business math when working in Simple Interest? I keep thinking of the…
A: The Proceeds in business maths mean the amount received after the end of tenure.Suppose, The…
Q: State three (3) of the main advantage they gain by selecting a corporate form of business now. Would…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: State three (3) of the main advantage they gain by selecting a corporate form of business now. Would…
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…
Q: what will be the company's net income if it is able to sell 125 units?
A: Break Even point is a situation where there is no profit no loss. Break even point (units) = Fixed…
Q: Discuss the need and significance of preparing income statement and start-up investment for any…
A: Income statement is the statement which shows the profit which has been earned by the company during…
Q: Phumla Ndou works as a night nurse in a hospital where she earns a monthly salary. On her days off…
A: General deduction is the deductions which are allowed to the taxpayers to reduce their total…
Q: State three (3) of the main advantage they gain by selecting a corporate form of business now.
A: Corporation: It refers to an organisation acting as a single entity(other than owners) which is…
Q: You are tasked to manage your family’s financial resources. How would you practice money management?…
A: Money management is an important part which directly starts from your home itself.A person earns…
Q: . Would you recommend they initially issue preferred or common stock? Why?
A: Preferred stock: The stock that provides a fixed amount of return (dividend) to its stockholder…
Mattie's Mums and More is a budding flower business. Review their Income Statement to answer the questions.
1. What is Mattie's Gross Profit?
2. What is the company's Operating Income?
3. What is the Net Income for Mattie's Mums and More?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Global Corp. initially projected the 2019 income statement shown in the table E. Suppose that in 2019, Global launched an aggressive marketing campaign that boosted 2019 sales further by 14.1%. However, their operating margin fell from 5.56% to 4.49% Suppose that they had no other income, interest expenses were unchanged, and taxes were the same percentage of pretax income (26%) as in 2018. a. What was Global's EBIT in 2019? b. What was Global's income in 2019? c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019? a. What was Global's EBIT in 2019? Global's EBIT was $ million. (Round to two decimal places.) b. What was Global's income in 2019? Net income was $ million. (Round to two decimal places.) c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019? Global's share price in 2019 was $. (Round to the nearest cent.)Income statement 2018 ( Mkr ) Revenue 95840 Operating expenses -94870 Operating profit 970 Interest income 50 Interest expenses -1550 Profit before tax -530 Tax 0 Net result -530 Balance sheet 20181231 ( Mkr) Total assets 65690 Equity 2910 Loan 25740 Non-interest bearing Liabilities 37040 Let us first study some financial key figures: a) What capital turnover rate did Thomas Cook create in 2018?ggr b) What was the debt / equity ratio of Thomas Cook 20181231?ggr c) What return on equity (RE) after tax did the company create in 2018?% Let us now assume that we are at the last board meeting in December 2018 and that financial targets for 2019 are discussed. Any profitability targets are set on opening balances for 2019. The Board (owners) are concerned about the financial balance and want an increase in the equity / assets ratio by one percentage point. The goal is expected to be reached in 20191231. However, the…This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780
- Brick & StoneIncome Statement for the year ended 31 December 2016 Notes $ $Sales 2,500,000Cost of Sales 1 1,100,000Gross Profit 1,400,000ExpensesSalaries & Wages 2 760,000Employer NIS Contribution 2,400Rent and Rates 3 240,000Insurance 50,000Maintenance 120,000Depreciation 4…Randall Corporation reported the following revenue data:Year Net revenues (in millions)$$$$6,8007,0046,7327,2762016201720182019Use 2016 as the base year. The trend percentage in 2019 is closest toa. 93%.b. 104%.c. 107%.d. 112%Module pute Net Operating Profit after Tax Refer to the balance sheet information below for Home Depot. Feb. 3, 2019 Jan. 28, 2018 $35,891 $34,794 1,511 3,056 $37,402 $37,850 $14,177 $13,640 24,822 22,974 $38,999 $36,614 Operating assets Nonoperating assets Total assets $ millions Operating liabilities Nonoperating liabilities Total liabilities Net sales Operating expense before tax Net operating profit before tax (NOPBT) Other expense Income before tax Tax expense Net income Assume a statutory tax rate of 22%. a. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = Net income + NNE Net income NNE NOPAT $ 9,453 $ $ $91,973 78,772 13,201 828 12,373 2,920 $9,453 7,361 * $ 16814 b. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = NOPBT - Tax on operating profit NOPBT Tax on operating profit 7,361 * $ 10,296.78 x $ NOPAT -2936
- Do the calculations in excel, attach excel screenshots and explain the steps and formulas used for solving the problem. Following are the particulars availableThe following financial statements relate to Inna Projects Limited:Statement of Comprehensive Income for the year ended 30 June 2018R’000Sales (Credit)8 000Cost of sales2 000Gross profit6 000Operating expenses2 800Operating profit3 200Interest expense220Profit before tax2 980Tax (25%)745Profit after tax2 235Statement of Financial Position as at 30 June 2018ASSETSR’000R’000Non-current assets45 320Current assets13 980Inventory5 080Debtors7 600Bank1 30059 300EQUITY AND LIABILITIESOwners’ equity54 040Capital39 000Retained income15 040Non-current assets3 000Current liabilities2 260Creditors2 26059 300Note: Inventory on 1 July 2017 amounted R3 000 000.Required:Calculate the following ratios and where applicable round off answers correctly to two decimal places:2.1 Gross margin (5)2.2 Inventory turnover (5)2.3 Debtors collection period (5)2.4 Return on own capital (5)2.5 Acid test ratio (5Brick & StoneIncome Statement for the year ended 31 December 2016Notes $ $Sales 2,500,000Cost of Sales 1 1,100,000 Gross Profit 1,400,000ExpensesSalaries & Wages 2 760,000Employer NIS Contribution 2,400 Rent and Rates 3 240,000Insurance 50,000Maintenance 120,000Depreciation 4 55,000Loss on Disposal of Vehicle 5 10,000Telephone 6 35,000Electricity 7 54,000Utilities 70,000Entertainment 8 100,000Donations 9 85,000Provision for Bad Debts 10 80,000Fines and Penalties 11 15,000Drawings 105,000 1,781,400 Net Profit/ (Loss) (381,400)Brick & StoneNotes to the Income Statement1. The Cost of Sales includes goods valuing $250,000 that were purchased for Mr. Stone’s personal use.2. Salaries and Wages include $25,000 per month, and $20,000 per month, paid to Mr. Stone and Mr. Brick respectively.3. $65,000 of the rent relates to the private dwelling of Mr. Brick’s wife.4. As at the 31 December 2021, the business recorded the following assets in its books:Assets Cost Reducing Balance…
- swer questions Income Statement Items 2019 2016 (000'Rands) (000'Rands) Sales Depreciation and ammortisation Interest expense Operating expense Gross Profit Margin 000 480 40% %0% Tax rate 30% 30% 2019 2016 Balance Sheet (000'Rands) (000'Rands) Accounts Payable 1,500 Accounts Receivable Accumulated /Retained Profits to 00 to 00 Cash to 00 0o 00 to 00 to 00 0o 00 Inventory Long term loans Ordinary Shares Property, Plant and Equipment Short term loans to 00 0o 00 00 00K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...Use the following information (in thousands):Service Revenue¥1,600,000 Income from continuing operations200,000 Net Income180,000 Income from operations440,000 Selling & administrative expenses1,000,000 Income before income tax400,000Determine the amount of other income and expense