With reference to the facts above: A.Calculate the net income of the partnership. B.Show the allocation of net income to each of the three partners. C.You must refer to relevant legislation and/or case law in your answer.

Use the following information: total sales: $100,000, rent revenue: $1000, other revenue: $3000, selling expenses: $40000, operating expenses: $50000, cost of goods sold: $10000, interest expenses: $2000, and tax rate: 20%. Prepare a single-income statement.

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The following information is available for Tamarisk Corp. for the year ended December 31, 2022. Other revenues and gains   $23,800 Other expenses and losses   4,000 Cost of goods sold   292,000 Sales discounts   4,600 Sales revenue   760,000 Operating expenses   221,000 Sales returns and allowances   10,800 Prepare a multiple-step income statement for Tamarisk Corp. The company has a tax rate of 25%.

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The net income reported on the income statement for the current year was $128,000. Depreciation recorded on store equipment for the year amounted to $21,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:       End of Year Beginning of Year Cash $51,200   $47,100   Accounts receivable (net) 36,710   34,810   Merchandise inventory 50,120   52,990   Prepaid expenses 5,630   4,470   Accounts payable (merchandise creditors) 47,970   44,560   Wages payable 26,210   29,110   ii) Express quantitative information to show an understanding, and or purposes of your work by for instance explaining why net cash flows from operating activities is different from net income.

Public accounting businesses may achieve adequate professional standards only if they have an effective quality control and monitoring system in place.

Use the following information to answer this question:  Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 9,250 Cost of goods sold 7,550 Depreciation 330 Earnings before interest and taxes $ 1,370 Interest paid 82 Taxable income $ 1,288 Taxes 270 Net income $ 1,018    Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions)   2020 2021   2020 2021 Cash $ 200 $ 215 Accounts payable $ 1,380 $ 1,587 Accounts received 950 850 Long-term debt 1,000 1,178 Inventory 1,620 1,580 Common stock 3,200 2,950 Total $ 2,770 $ 2,645 Retained earnings 510 760 Net fixed assets 3,320 3,830       Total assets $ 6,090 $ 6,475 Total liabilities & equity $ 6,090 $ 6,475  Windswept, Incorporated, has 350 million shares of stock outstanding. Its price-earnings ratio for 2021 is 12. What is the market price per share of stock?

Rahul