Carrington Corp had $56,000 in sales during 2026. During the year, Carrington purchased $18,000 in inventory. The company began the year with $4,500 in inventory and ended the year with $1,000 in inventory. In addition, during 2026, Carrington received a prepayment of $3,000, which was correctly classified as unearned revenue. What was Carrington Corp's gross profit during 2026? a. $39,000 b. $34,500 c. $41,000 d. $36,500 e. None of the above

In 2025, Dollar Time Corporation earned sales revenues of $1,320,000 with related cost of goods sold of $720,000. The company incurred administrative expenses of $310,00 and had other revenues and gains of $22,000. Income tax expense was $31,000. Based on this information, the company will report gross profit for the year of

BCD Company had sales Revenue of $500,000 for the year 2019. Its cost of goods sold was $240,000, and its operating expenses were $50,000, and administrative expenses $ 25,000. Interest revenue for the year is $5,000 of which $2000 is unearned and interest expense was $12,000. BCD’s income tax rate is 25%. Required:                                                                                                                                                         Prepare a classified multiple-step income statement for the year for BCD Company.

Swifty Incorporated had average total assets in 2025 of $6343000. It reported sales for of $8209000 that year. Average liabilities for the year were $5187000. Net income for the year was $964136. What is Swifty' return on assets for 2025? O 15.20% 18.59% O 11.74% 6.60%

Bramble Corp. reported the following in its 2022 and 2021 income statements.

Concord Ltd. had the following 2023 income statement data: Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,900) Income before income taxes Income taxes Net income $207,500 (a) 119,000 88,500 48,000 40,500 16,000 $24,500 The following accounts increased during 2023 by the amounts shown: Accounts Receivable, $15,900; Inventory, $10,800; Accounts Payable (relating to inventory), $13,900; Taxes Payable, $2,200; and Mortgage Payable, $40,500. Prepare the cash flows from operating activities section of Concord's 2023 statement of cash flows using the indirect method and following IFRS. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis e.g. (15,000).) Concord Corporation Statement of Cash Flows Indirect Mothed)

The Company reported post-tax profit of P491,400 for the year ended December 31, 2020.Cost of goods sold amounted to P2,108,000 which is P270,000 greater than the net purchases during the year.Operating expenses amounted three times the peso amount of income tax expense.Beginning inventory is three times the amount of ending inventory.Income tax rate is 30%. How much were the total operating expenses during the year 2020?

financial statement below represents the performance of Yovela & Co in 2023. Yovela and Co Income statement for the year ended 31 December 2023 $ Sales revenue 187,000 Cost of goods sold (105,000) Gross profit 82,000 Interest income 1, 050 Selling, General & Administrative Exp. (49,300) Interest Expense (1,950) Profit before tax 31,800 Tax Exp. (8,427) Profit after tax 23, 373 Statement of financial position as at 31 December 2023 ASSETS $ $ Non- Current Assets Delivery van 44, 500 Current Assets Inventories 26,000 Trade receivables 21, 600 Cash at bank 20,855 Prepaid expenses (325) 68,455 Total Assets 112,955 EQUITY AND LIABILITIES Current Liabilities Trade payables 18,000 Tax payable 2,350 20, 350 Non- Current Liabilities Non- current debt 35, 650 Total Liabilities 56, 000 Equity 56, 955 Total equity and liabilities 112, 955 Required: As an analyst, you are required to prepare a condensed financial statement as part of your process of evaluating the business of Yovela $ Co. Useful…

Coronado Incorporated had average total assets in 2025 of $6345000. It reported sales for of $8217000 that year. Average liabilities for the year were $5199000. Net income for the year was $958095. What is Coronado' return on assets for 2025? O 15.10 % O 18.43% O 6.52% O 11.66%

Ayayai Ltd. had the following 2020 income statement data: Sales $205,600 Cost of goods sold 119,400 Gross profit 86,200 Operating expenses (includes depreciation of $22,400) 48,300 Income before income taxes 37,900 Income taxes 15,000 Net income $22,900 The following accounts increased during 2020 by the amounts shown: Accounts Receivable, $16,000; Inventory, $10,500; Accounts Payable (relating to inventory), $14,000; Taxes Payable, $2,000; and Mortgage Payable, $40,200.