Assume that Taco Bell company reported operating income of $5.15 million, $0.7 million in other income and gains (except equity earnings), $1.65 million in other expenses and losses, and a tax rate of 40%. 1. Using the information given above for Wendy's company, what is the net income of the company?

Assume that Taco Bell company reported operating income of $5.15 million, $0.7 million in other income and gains (except equity earnings), $1.65 million in other expenses and losses, and a tax rate of 40%. 1. Using the information given above for Wendy's company, what is the net income of the company?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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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…
Garden Pro Corporation has sales of $4,374,312; income tax of $562,963; the selling, general and administrative expenses of $291,061; depreciation of $399,602; cost of goods sold of $2,863,521; and interest expense of $105,428. Calculate the firm's net income?
Below are amounts found in the income statements of three companies. \table[[Company,Net Sales,Cost of Goods,Operating,Nonoperating,Income Tax],[Henry,$42,000,$10,500,Expenses,Expenses,Expense],[Grace,45,000,29,700,$5,500,$2,500,$2,500
Seifert Corporation reports the following account balances: Sales revenues $700,000, Rental revenues $180,000, General and Administrative expenses $320,000, Selling expenses $280,000, Income tax expenses $60,000, and Dividends paid $220,000. By what amount will Net income on a Single-step Income statement differ from Net income on a Multiple-step Income statement if Seifert prepares both formats?
Listed below is the income statement for Tom and Sue Travels, Incorporated. TOM AND SUE TRAVELS, INCORPORATED Income Statement for Year End (in millions of dollars) Net sales. Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income The CEO of Tom and Sue's wants the company to earn a net income of $3.200 million. Cot of goods sold is expected to be 60 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to increase to $1.306 million, and the firm's tax rate will be 21 percent. Calculate the net sales needed to produce net income of $3.200 million. Note: Enter your answer in millions of dollars rounded to 3 decimal places. (i.e., Enter 5,500,000 as 5.500.) Net sales $19.600 9.000 $ 10.600 4.150 $6.450 3.800 $…
Understanding the income statement) If the Reid Company earned $500,000 in net income, spent $100,000 in cost of goods sold, had $55,000 of general and administrative expenses, $45,000 in interest expense, $30,000 in depreciation expenses, and $50,000 in taxes, what was the company's sales revenue? 3-2. (Computing earnings per share) If Raines Company earned $280,000 in net income, and paid cash dividends of $40,000, what are Raines's earnings per share if it has 80, 000 shares outstanding? 3-3. (Preparing an income statement) Prepare an income statement and a common - sized income statement from the following information. Sales $525, 000 Cost of goods sold 200,000 General and administrative expenses 62,000 Depreciation expenses 8,000 Interest expense 12,000 Income taxes 97,200
Do if you 100% sure Calculate EBITDA for the below company. Sales 1, 249.0 COGS (628.0) Gross profit 421.0 SG&A (258.0) Operating profit 363.0 Other income (expenses ) 12.6 Net interest expense (15.0) Profit before tax 360.6 Tax expense (549.6) Profit after tax (189.0) Income from discontinued operations (19.0) Non controlling interests (29.0) Net income to common shareholders (237.0) In the MD&A and notes to the accounts you find the following information: Impairment expense in SG&A 168.0 Restructuring charge in COGS 12.0 Depreciation and amortization 65.0 Marginal tax rate 35.0% Other income (expenses) primarily relates to the integration costs of a new acquisition which closed the prior year. Select one: 428.0 543.0 415.4 608.0
If a company has $575,983 in revenues and $267,198 in total expenses, what is their percentage of net income to revenues?
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022. INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 Net sales Costs Depreciation (Figures in $ millions) Earnings before interest and taxes (EBIT) Interest expense Pretax income $ 27,572 17,574 1,407 $ 8,591 522 8,069 Federal taxes (@ 21%) Net income 1,694 $ 6,375 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Assets Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets 2022 2021 Liabilities and Shareholders' Equity Current liabilities 2022 2021 $ 2,341 $ 2,341 Debt due for repayment 1,380 127 1,094 $ 4,942 1,340 Accounts payable 122 Total current liabilities $ 3,408 $ 3,408 $ 382 3,148 $ 3,530 621 $ 4,424 Long-term debt $ 24,682 2,809 2,988 $ 22,840 Other long-term liabilities 2,658…
Question: During the year, the Senbet Discount Tire Company had gross sales of $1.08 million. The firm's cost of goods sold and selling expenses were $527,000 and $217,000, respectively. The firm also had notes payable of $820,000. These notes carried an interest rate of 5 percent. Depreciation was $132,000. The firm's tax rate was 40 percent. What was the firm's net income?

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