Based on the following information, what was FIN3300F24’s net operating profit after taxes (NOPAT) in 2023? FIN3300F24 Balance Sheet   As of 12/31/23 As of 12/31/22 Cash $19,000 $54,000 A/R 96,000 75,000 Inventories 273,000 174,000     Total CA $388,000 $303,000 Gross FA 750,000 540,000 Less: accumulated depreciation 238,000 168,000     Net FA $512,000 $372,000          Total Assets $900,000 $675,000 Accounts payable $108,000 $51,000 Accruals 27,000 12,000 Notes payable 273,000 102,000     Total CL $408,000 $165,000 Long-term debt 137,700 172,500 Common stock 189,000 189,000 Retained earnings 165,300 148,500          Total L & E $900,000 $675,000 FIN3300F24 Income Statement      2023 Sales $960,000 Cost of goods sold 576,000     Gross profit $384,000 Operating expenses excluding depreciation $222,000 Depreciation 70,000     Total operating expenses $292,000 EBIT $92,000 Interest expense 36,600 Earnings before taxes $55,400 Taxes (21%) 11,634 Net income $43,766 $72,680 $165,300 $43,766 $92,000

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 12P
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Based on the following information, what was FIN3300F24’s net operating profit after taxes (NOPAT) in 2023?

FIN3300F24 Balance Sheet

 

As of 12/31/23

As of 12/31/22

Cash

$19,000

$54,000

A/R

96,000

75,000

Inventories

273,000

174,000

    Total CA

$388,000

$303,000

Gross FA

750,000

540,000

Less: accumulated depreciation

238,000

168,000

    Net FA

$512,000

$372,000

         Total Assets

$900,000

$675,000

Accounts payable

$108,000

$51,000

Accruals

27,000

12,000

Notes payable

273,000

102,000

    Total CL

$408,000

$165,000

Long-term debt

137,700

172,500

Common stock

189,000

189,000

Retained earnings

165,300

148,500

         Total L & E

$900,000

$675,000

FIN3300F24 Income Statement

 

   2023

Sales

$960,000

Cost of goods sold

576,000

    Gross profit

$384,000

Operating expenses excluding depreciation

$222,000

Depreciation

70,000

    Total operating expenses

$292,000

EBIT

$92,000

Interest expense

36,600

Earnings before taxes

$55,400

Taxes (21%)

11,634

Net income

$43,766

$72,680

$165,300

$43,766

$92,000

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