A firm $925, 000 of retained earnings in 2021 and $1, 05, 000 in 2022. The firm generated net income after tax of $215, 000. How much did they pay in dividends in 2021? A. 180, 000 B. 162, 500 C. 173,000 D. 152, 000
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A firm $925, 000 of
A. 180, 000
B. 162, 500
C. 173,000
D. 152, 000
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- A company paid $11,310 in interest and $16,500 in dividends last year. The times interest earned ratio is 2.9, the depreciation expense is $7,900, and the tax rate is 21 percent. What is the value of the cash coverage ratio? O a. 3.71 O b. 3.60 O C. 2.78 d. 3.10 O e. 2.58A firm with sales of $500,000, net profits after taxes of $20,000, total liabilities of $200,000, and stockholders’ equity of $100,000 will have a return on equity of Select one: a. 5% b. 40% c. 20% d. 10%A corporation has $91,000 in total assets, $30, 500 in total liabilities, and a $18,600 credit balance in retained earnings. What is the balance in the contributed capital accounts? Multiple Choice $79, 100 $49, 100 $60,500 $41,900
- The balance sheet of Zinc Industries, a producer of zinc, showed retained earnings of $37,000 on its January 31, 2020 balance sheet. On its January 31, 2021 balance sheet, retained earnings was $40,000. Zinc Industries reported net income for the year ended January 31, 2021, of $25,000. How much dividend did Zinc Industries declare and pay during the year ended January 31, 2021? Select one: a. $28,000 b. $22,000 c. $25,000 d. $32,000 e. $15,000In 2022, Cullumber Corporation had net sales of $600,000 and cost of goods sold of S 353,000. Operating expenses were $149, 000, and interest expense was $5,500. The corporation's tax rate is 20%. The corporation declared preferred dividends of $11,500 in 2022, and its average common stockholders' equity during the year was $182, 000. Prepare an income statement for Cullumber Corporation.1. During 2021, Target Corporation had: Revenue of $623,000 Cost of Goods Sold of $250,000 Operating expenses of $68,000 Interest expense of $4,000 Depreciation Expense of $13,000 During the year Target Corporation paid: 50% of net income in dividends 21% in corporate taxes a. Prepare a multi-step income statement on Sheet 1 of your spreadsheet. Include the dividend and additions to Retained Earnings below the income statement. b. Calculate Target's Operating Cash Flow beneath the Income Statement. 2. The following data refers to the 2021 year-end account balances for Target. However, the Retained Earnings balance is as of 12/31/2020. The accounts are listed in alphabetical order. $ Accounts Payable 25,000 Accounts Receivable 16,000 Accumulated Depreciation 175,000 Cash 44,000 Common Stock 120,000 Fixed Assets (gross) 390,000…
- G. C. Murphey’s 2016 financial statements show average shareholders’ equity of $20,412 million, net income of $5,040 million, and average total assets of $86,700 million.How much is G. C. Murphey’s return on assets for the year? Question 21 options: A) 4.77% B) 5.81% C) 11.42% D) 24.69%Fred corp. declare and pay a dividend on July 1, 2018, amount of $45,000; if the Refundable Dividend Tax on Hand balance on Dec 31, 2017, of $14,000. What is the dividend refund amount, if any? a. $17,250 b. $14,000 c. $19,667 d. $45,000A firm's year-end retained earnings balances are $670,000 and $780,000, for 2018 and 2019 respectively. The firm paid $10,000 in dividends in 2019. The firm's net profit after taxes in 2019 was $110,000 -$100,000 $100,000 -$110,000
- Using the financial statements mentioned above estimate the annual rate of interest paid by the corporation (cost of debt). Also, find the tax rate and capitalization ratio (proportions among equity and debt). Using these values that you have found estimate the annual weighted cost of capital (WACC) of the corporation. Income statement PERIOD ENDING: 12/31/2019 Total Revenue $20,972,000 Cost of Revenue $17,755,000 Gross Profit $3,217,000 OPERATING EXPENSES Research and Development $0 Sales, General and Admin. $938,000 Non-Recurring Items $138,000 Other Operating Items $341,000 Operating Income $1,800,000 Add'l income/expense items $180,000 Earnings Before Interest and Tax $1,993,000 Interest Expense $394,000 Earnings Before Tax $1,599,000 Income Tax $326,000 Minority Interest $13,000 Equity Earnings/Loss Unconsolidated Subsidiary $0 Net Income-Cont. Operations $1,286,000 Net Income $1,273,000 Net Income Applicable to Common Shareholders…Required: 1. Calculate the total current assets at December 31, 2021. 2. Calculate the total liabilities and stockholders' equity at December 31, 2021. 3. Calculate the earnings from operations (operating income) for the year ended December 31, 2021. 4. Calculate the net income (or loss) for the year ended December 31, 2021. 5. What was the average income tax rate for the company for 2021? 6. If 48,000 of dividends had been declared and paid during the year, what was the January 1, 2021, balance of retained earnings? Assume that all balance sheet items reflect account balances at December 31, 2021 of ABC Ind, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Net sales 99,000…Mars Corporation has Revenues of $50 million, Tax Expense of $5 million, total Other Expenses of $15 million, and Net Income of $30 million. What is Mars Corporation's income tax RATE? 25.0% 10.0% 14.3% 16.7%
