You are given the following information about Sheridan Plumbing Company. Revenues in 2017 totaled $ 908, depreciation expenses $ 77, costs of goods sold $ 374, and interest expenses $ 71. At the end of the year, current assets were $ 136 and current liabilities were $ 117. The company has an average tax rate of 34 percent. Calculate its net income by setting up an income statement. (Round answers to 2 decimal places, e.g. 15.25) Sheridan Plumbing Company Income Statement

For the FY 2016, Alpha Company had net sales of $950,000 and a net income of $65,000, paid income taxes of $30,000, and had before-tax interest expense of $15,000. Use this information to determine the: 1. Times Interest Earned Ratio. 2. Profit Margin.

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LeapFrog Enterprises Inc. had the following quarterly net in- comes during its 2013 fiscal year. (Source: Leapfroginvestors. com) Quarter of Fiscal 2013 Net Income (in millions) First -$3.0 Second -$3.2 Third $26.4 Fourth $63.9 What was the total net income for fiscal year 2013?

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%.

At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long- term debt of $7000. Corresponding entries for 2003 are $1600, $2000, and $2000. Asset values are below. During 2003, Yung.com had sales of $10000, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21%, and all taxes are paid currently. The company has 100 shares of common stock outstanding with a stock price of $15 at the end of 2003. Total dividends paid is $120 in 2003. Current Asset Cash Accounts receivable Marketable securities 400 Inventory Fixed Assets 2002 Net Fixed Asset (Plant&Equipment) $800 900 1800 2003 $900 300 800 2000 $2000 $9000 In 2003, the Market-value-to-Book-value ratio is %

Flounder Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. FLOUNDER COMPANY BALANCE SHEET DECEMBER 31, 2017 Cash $20,900 Accounts payable $80,000 Receivables 117,000 Long-term notes payable 181,000 Inventory 75,000 Common stock (no par) 110,000 Plant assets (net) 354,000 Retained earnings 195,900 $566,900 $566,900 The net income for 2017 was $43,000. Assume that total assets are the same in 2016 and 2017.

Allen Company's 2022 income statement reported total revenues, $890,000 and total expenses (including $44, 000 depreciation) of $760,000. The company's accounting records showed the following: accounts receivable - beginning balance, $54,000 and ending balance, $43, 600; accounts payable - beginning balance, $26,000 and ending balance, $31,600. Therefore, based only on this information, how much was the 2022 net cash provided by operating activities? Multiple Choice $190,000. $ 178,800. $125, 200. $169, 200

The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable 2021 $ 4.500 1,900 600 290 540 130 420 280 440 Price 5,300 1.800 856 440 850 per share 2022 $ 4.600 2,000 620 350 590 Net fixed assets Long-tern debt Notes payable Dividends paid Cash and marketable securities *Taxes are paid in their entirety in the year that the tax obligation is incurred. 130 440 320 510 6. 190 *Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that the market value (in thousands of dollars) of Fincorp's fixed assets in 2022 is $6,500 and that the value of its long-term debt is only…

Portions of the financial statements for Parnell Company are provided below.  PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains:             Sales $ 750         Gain on sale of building   11   $ 761   Expenses and loss:             Cost of goods sold $ 275         Salaries   115         Insurance   35         Depreciation   118         Interest expense   45         Loss on sale of equipment   13     601   Income before tax         160   Income tax expense         80   Net income       $ 80       PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands)   Year         2021     2020   Change Cash $ 129   $ 105   $ 24   Accounts receivable   319     221     98   Inventory   326     420     (94 ) Prepaid insurance   71     83     (12 ) Accounts payable   205     122     83   Salaries payable   112     98     14…