abc general accounting Allen Marks is the sole stockholder and operator of Great Marks Company.As at December 31, 2013, Great Marks Company has assets of $916,956 andliabilities of $269,921. During 2014, Allen Marks purchased an additional$28,231 of capital stock and received $25,581 in cash dividends from thebusiness.What is the amount of net income of Great Marks Company during 2014,assuming that as of December 31, 2014, assets were $984,233, and liabilitieswere $232,804?Select the correct answer.a. $37,117b. $25,581c. $101,744d. $67,277

Step 1: Definition of Net IncomeNet income is the profit earned by a business after subtracting all…

Answered: Allen Marks is the sole stockholder and…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 18P

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NEED Answer please General Accounting
General Accounting
The 2016 financial statements of a company reveal average shareholders’ equity attributable to controlling interest of $837,283 thousand, net operating profit after tax of $48,032 thousand, net income attributable to The New York Times Company of $29,068 thousand, and average net operating assets of $354,414 thousand. How do I calculate RNOA for New York times?
For 2018, Sabil Corporation earned net income of $480,000 and paid dividends of $18,000. At January 1, 2018, Sabil had $200,000 of $10 par value common stock outstanding and $1,500,000 of retained earnings.On January 1, 2018, Phyit Corporation bought outstanding common stock of Sabil paying $200,000. All payments made by Phyit in excess of book value were attributable to equipment, which is depreciated over ten years on a straight-line basis. Prepare Phyit’s general journal entry for the acquisition of common stock of Sabil, the recognition of dividend income, and/or net income participation in Sabil under the following assumptions:1. Phyit purchased 10% of outstanding common stock.2. Phyit purchased 20% of outstanding common stock.
The Esposito Import Company had 1 million shares of common stock outstanding during 2016. Its income statement reported the following items: income from continuing operations, $5 million; loss from discontinued operations, $1.6 million. All of these amounts are net of tax. Required: Prepare the 2016 EPS presentation for the Esposito Import Company.
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