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…

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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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
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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
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?
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Following data is given for XYZ company: Sales $114,000 Operating income Total assets $39,900 $71,250 Return on investment for XYZ company is: a. 21.875% b. 56% с. 100% d. 10%
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Below is given the data for the assembly division of Charles Corporation: Sales Cost of Sales Operating Expenses $10,000,000 $15,000,000 Average Operating Assets $250,000,000 $310,000,000 2020 2021 $100,000,000 $165,000,000 $22,000,000 $28,000,000 Minimum Required Rate of Return Actual Cost of Capital Income Tax Rate Instructions 1. Compute the margin and turnover ratios for each year 2. Compute the ROI for each year 3. Compute the residual income for each year 4. Compute EVA for Charles Corporation for each year (Note: Round to 2 decimal) MacBook Air 9% 6% 30%

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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