5) At the end of 2021, Trump Co. reported net sales revenue of $16,837,000, cost of good sold of $7,577,000, salaries expense of $1,136,600, depreciation of $1,894,300, dividends declared of $336,700, utilities expense of $454,600, interest expense of $227,300, rent revenue of $757,600, and marketing expense of $833,500. What should Trump Co. report as net income in 2021? (AC 15) O $5,134,600 O $16,837,000 O $5,471,300 O $5,808,000

5) At the end of 2021, Trump Co. reported net sales revenue of $16,837,000, cost of good sold of $7,577,000, salaries expense of $1,136,600, depreciation of $1,894,300, dividends declared of $336,700, utilities expense of $454,600, interest expense of $227,300, rent revenue of $757,600, and marketing expense of $833,500. What should Trump Co. report as net income in 2021? (AC 15) O $5,134,600 O $16,837,000 O $5,471,300 O $5,808,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Martinez Industries had the following operating results for 2021: Sales = $34,318; Cost of goods sold = $24,212; Depreciation expense = $5,997; Interest expense = $2,710; Dividends paid = $1,996. At the beginning of the year, net fixed assets were $19,940, current assets were $7,054, and current liabilities were $3,992. At the end of the year, net fixed assets were $24,502, current assets were $8,684, and current liabilities were $4,673. The tax rate was 22 percent. a. What is net income for 2021? b. What is the operating cash flow for 2021? ( c. What is the cash flow from assets for 2021? d-1. If no new debt was issued during the year, what is the cash flow to creditors? ( d-2. If no new debt was issued during the year, what is the cash flow to stockholders?
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Da
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