Please need answer the accounting question not use chatgpt A firm has:Net SalesCost of Goods SoldDepreciation Expense$12,000,000$7,000,000$500,000Selling and Administrative Expenses $750,000Interest Expense$500,000Average Tax Rate21%The firm's operating income is:a) 5,000,000b) 3,750,000c) 3,250,000d) 2,567,500

Step 1: Define Income StatementThe income statement is the financial statement on which revenues,…

Answered: A firm has: Net Sales Cost of Goods…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 3SEQ: Division A of Kern Co. has sales of $350,000, cost of goods sold of $200,000, operating expenses of...

See similar textbooks

Similar questions

solve this
Can you please solve this questions
Give true answer
Your firm has total sales of $1,700. Operating Costs are $745, excluding depreciation and taxes, and operating- related depreciation is $155. The tax rate is 20%. What is the operating cash flow? A. $460. B. $600. C. $640. D. $800. E. $955.
A retail company TGT has sales of $1,120,000 and total costs of $955,000, including depreciation and interest expenses. The average tax rate is 27%. Total assets are valued at $70,000 and total equity at $44,000. What comes closest to the profit margin? 11% 18% 15% 8% DOO
I want correct answer
Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's income before tax? O $10,865,000 O $25,115,000 O $750,000 O $4,360,000
What is the net income for this company
Calculate the sales margin, asset turnover, and ROA for the companies below: Average Capital Assets Company A B Net Income Sales 350,000 5,500,000 12,000,000 .06 845,000 9,350,000 13,500,000 Sales Margin 1 Asset Turnover 2.9 1.44 Note: Please write the sales Margin and ROI as a percentage or as a decimal rounded to two places behind the decimal point. ROI 6,500,000 4,150,000
Sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit margin? O 22.5% O 20.5% 19.6% O 18.9%
Sales revenue 400,000 Total Revenue 400,000 Expenditure Cost of goods sold 160,000 Marketing Expense 70,000 Administrative Expense 50,000 Depreciation Expense 20,00 Total Expense 300,000 Income before tax 100,000 Less: Income tax 20,000 Net Income 80,000 What are the firms gross profit margin, operating profit margin, and the net profit?
Solve this Accounting problem

SEE MORE QUESTIONS

Recommended textbooks for you

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

A firm has: Net Sales Cost of Goods Sold Depreciation Expense $12,000,000 $7,000,000 $500,000 Selling and Administrative Expenses $750,000 Interest Expense $500,000 Average Tax Rate 21% The firm's operating income is: a) 5,000,000 b) 3,750,000 c) 3,250,000 d) 2,567,500