Assume a company's Income Statement for Year 12 is as follows:Income Statement DataNet Revenues from Footwear SalesCost of Pairs SoldWarehouse ExpensesMarketing ExpensesAdministrative ExpensesOperating Profit (Loss)Interest Income (Expense)Pre-tax Profit (Loss)Income TaxesNet Profit (Loss)Year 12(in 000s)$580,000370,00040,00075,00015,00090,000(15,000)75,00022,500$ 52,500Based on the above income statement data and assuming the company has 20 million shares of common stock outstanding, thecompany's operating profit margin and EPS were12.93% and $3.75.15.52% and $2.63.15.52% and $4.50.9.05% and $3.75.13.79% and $1.75.

Step 1: The operating profit margin can be calculated by dividing the Operating profit by the Net…

Answered: Assume a company's Income Statement for…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...

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Assume a company's Income Statement for Year 9 is as follows: Year 9 (in 000s) Income Statement Data Total Revenues Cost of Goods Sold Delivery Costs Marketing Costs Administrative Expenses Operating Profit (Loss) Other Income (Expense) Interest Income (Expense) Pre-tax Profit (Loss) Income Taxes Net Profit (Loss) $ 650,000 380,000 45,000 53,000 11,000 161,000 -2,600 -10,800 147,600 44,280 $ 103,320 Based on the above income statement data, the company's interest coverage ratio and its operating profit margin are 14.91 and 24.8%. 17.22 and 24.6%. 19.29 and 21.4%. 16.71 and 23.3%. 13.67 and 15.9%.
Assume a company's Income Statement for Year 12 is as follows: Year 12 (in 000s) Income Statement Data Net Revenues from Footwear Sales Cost of Pairs Sold $ 560,000 340,000 45,000 Warehouse Expenses Marketing Expenses Administrative Expenses Operating Profit (Loss) Interest Income (Expense) Pre-tax Profit (Loss) 85,000 15,000 75,000 (25,000) 50,000 15,000 $ 35,000 Income Taxes Net Profit (Loss) Based on the above income statement data and the formula for calculating the interest coverage ratio presented on the Help section for p. 5 of the Footwear Industry Řeport, the company's interest coverage ratio is Copyright O by Glo-Bus Software, Inc. Copying, distributing, ar 3rd party website posting isexpressly prohibited and constitutes copyright vialation. O 1.40. O 2.00. O 22.4. 4.00. O 3.00.
Assume a company's Income Statement for Year 12 is as follows: Income Statement Data Year 12(in 000s) Net Revenues from Footwear Sales $ 580,000 Cost of Pairs Sold 370,000 Warehouse Expenses 40,000 Marketing Expenses 75,000 Administrative Expenses 15,000 Operating Profit (Loss) 90,000 Interest Income (Expense) (15,000) Pre-tax Profit (Loss) 75,000 Income Taxes 22,500 Net Profit (Loss) $ 52,500 Based on the above income statement data and the formula for calculating the interest coverage ratio presented on the Help section for p. 5 of the Footwear Industry Report, the company’s interest coverage ratio is 5.00. 2.80. 38.66. 6.00. 3.50.
The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…
The following are the financial statement Quick Ltd. for the year ended 31st December 2020: Quick Ltd. Income statement For year ended 31st December 2020 $”000” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) Profit before tax 150.00 Tax (70.00) Profit after tax 80.00 Quick Ltd. Statement of financial position as at 31 December 2020 2019 $”000” $”000d” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…
A company reports the following amounts at the end of the year: Sales revenue Cost of goods sold Net income $ 310,000 210,000 53,000 Compute the company's gross profit ratio. (Round your final answe Gross profit ratio %
The statement of income for Pembina Ltd. is shown below: Sales Cost of goods sold Gross profit PEMBINA LTD. Statement of Income Year Ended December 31 (in millions) Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income 2021 $1,610 908 702 525 177 80 97 25 $72 2020 $1,410 744 PEMBINA LTD. Horizontal Analysis of Statement of Income (% of base-year amount) Year Ended December 31 666 407 259 50 209 52 $157 2019 $1,194 598 596 397 199 40 159 40 $119 Using horizontal analysis, calculate the horizontal percentage of a base-year amount, assuming 2019 is the base year. (Round answers to 1 decimal place, e.g. 5.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1% or parentheses e.g. (45.1)%.)
Dela Rosa Company Company The income statement for the year ended December 31, 2020, for Dela Rosa Company Comnany contains the following condensed information. Dela Rosa Company Company Income Statement For the Year Ended December 31, 2X20 Sales revenue Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income P6,583,000 P2,810,000 2,086,000 880,000 24.000 5,800.000 783,000 353,000 P430,000 The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost of P750,000. The following balances are reported on Dela Rosa's comparative balance sheets at December 31, Dela Rosa Company Company Comparative Balance Sheets Cash Accounts receivable Inventory Accounts payable 2X20 P672,000 775,000 834,000 521,000 2X19 P130,000 610,000 867,000 501,000 Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid…
ssume a company's Income Statement for Year 12 is as follows: Income Statement Data Year 12(in 000s) Net Revenues from Footwear Sales $ 600,000 Cost of Pairs Sold 370,000 Warehouse Expenses 55,000 Marketing Expenses 100,000 Administrative Expenses 15,000 Operating Profit (Loss) 72,000 Interest Income (Expense) (12,000) Pre-tax Profit (Loss) 48,000 Income Taxes 14,400 Net Profit (Loss) $ 33,600 Based on the above income statement data and the formula for calculating the interest coverage ratio described in the Help section for p. 5 of the Shoes Industry Report, the company's interest coverage ratio is ?
The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)
The following are the comparative financial statements for Outland Corporation for 2020 and 2019: OUTLAND CORPORATION Statement of Income For Periods Ending October 31 Sales Revenue Cost of Goods Sold Gross Profit.. 2020 167,500 100,000 67,500 2019 140,000 85,000 55,000 Expenses Depreciation Selling and Administrative Interest Expense. Total Expenses. 15,000 22,500 15,000 15,000 47,500 35,000 Net Income (before taxes). Income Taxes 25,000 10,000 15,000 22,500 7,500 15,000 Net Income OUTLAND CORPORATION Statement of Financial Position As at October 31 2020 2019 Assets Current Assets: 4,000 10,000 35,000 31,000 80,000 Cash. 2,500 7,500 30,000 25,000 65,000 Marketable Securities. Accounts Receivable. Inventory Total Current Assets Investments (at cost).. 30,000 32,500 Property, plant and equipment Property, Plant and Equipment.. Less: Accumulated Depreciation. 200,000 87,500 112,500 2,500 225,000 190,000 80,000 110,000 2,500 210,000 Goodwill Total Assets Liabilities and Shareholders'…
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