The balance in retained earnings of a Company at the beginning of the year was $65,000.  During the year, the corporation earned revenue of $430,000 and incurred expenses of $360,000, dividends of $50,000 were declared and paid, and the balance of the Cash account increased by $10,000.  The company's net income and the year-end balance in the retained earnings account are, respectively: a                      $70,000 and $85,000. b                      $20,000 and $95,000. c                      $20,000 and $85,000. d                      $70,000 and $95,000.

mashed Pumpkins Company paid $112 in dividends and $547 in interest over the past year. The company increased retained earnings by $456 and had accounts payable of $558. Sales for the year were $16, 160 and depreciation was $708. The tax rate was 25 percent. What was the company's EBIT?

The year-end balance sheet of Star Inc. shows total assets of $6,617 million, operating assets of $5,253 million, operating liabilities of $2,822 million, and shareholders' equity of $2,950 million.The company's year-end net operating assets are:     $9,39 million     $5,253 million     $2,431 million     $8,075 million     None of these are correct.

Keating Company had a retained earnings balance of $5,820 at the end of last year.  This year the company projects sales of $12,850 with a 6% net profit margin and a 25% dividend payout ratio.  Forecast the balance of retained earnings at the end of this year..

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?

Last​ year, net profits of a company were nine-elevenths of revenue. If the company declared a dividend of ​$14983 and two-seventeenths of the net profit was retained in the​ company, what was last​ year's revenue?

Arizona Corp. had the following account balances at 12/1/19:  Receivables: $96,000; Inventory: $240,000; Land: $720,000; Building: $600,000; Liabilities: $480,000; Common stock: $120,000; Additional paid-in capital: $120,000; Retained earnings, 12/1/19: $840,000; Revenues: $360,000; and Expenses: $264,000.   Several of Arizona's accounts have fair values that differ from book value. The fair values are: Land — $480,000; Building — $720,000; Inventory — $336,000; and Liabilities — $396,000.   Inglewood Inc. acquired all of the outstanding common shares of Arizona by issuing 20,000 shares of common stock having a $6 par value, but a $66 fair value. Stock issuance costs amounted to $12,000.     Imagine you are the decision maker at Inglewood Inc.   Prepare a fair value allocation and goodwill schedule at the date of the acquisition.    Determine in 525- words whether you would encourage acquiring Arizona Corp? Be sure to include your rationa

Chicago Company, a calendar-year corporation, had the following actual income before income tax expense and estimated effective annual income tax rates for the first three quarters in 20x2: Quarter Income Before Income Tax Expense Estimated Effective Annual Tax Rate at the End of Each Quarter First $70,000 Second $90,000 Third $120,000 28% 26% 30% Chicago's income tax expense in its interim income statement for the third quarter should be: a) $36,000 b) $41,000 c) $42,400 d) $84,000

Radnor Corporation reports the following results for the current year: Gross profits on sales $135,000 Long-term capital loss $ 15,000 Short-term capital loss $ 4,000 Dividends from 60% owned domestic corporation $20,000 Operating expenses $ 55,000 Charitable contributions $15,000 What are Radnor’s taxable income and income tax liability?