Colby Corporation has provided the following information: Operating revenues were $212,700. Operating expenses were $124,000. Interest expense was $9,200. Gain from sale of plant and equipment was $4,200. Dividend payments to Colby's stockholders were $8,200. Income tax expense was $42,000. Prepaid rent expense was 5,500. How much was Colby's net income?

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A:

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A: Solution:- Net profit means the net earnings earned by a firm after taking into consideration the…

Q: How much Net Income did the company earn during the year

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Q: During the year, Belyk Paving Company had sales of $2,425,000. Cost of goods sold, administrative…

A: Long-term debt is debt that is due in more than one year or more than 12 months. This is a liability…

Q: You are given the following information for Company A.: sales = $73,900; costs = $54,100; addition…

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A: Return on  Assets: Return on assets (ROA), also known as return on total assets, is a measurement of…

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Q: For the past year, shame ltd., had sales of $45,002, interest expense of $4,306, cost of goods sold…

A: One of a business's performance accounts, an income statement, commonly referred to as a profit and…

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Q: XYZ Corporation reported net income of $100,000, interest expense of $10,000, and tax expense of…

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Q: . What is the company’s margin (net income after taxes) as a percentage (this is return on sales)…

A: Profit Margin: It is the ratio of the profit made by the company divided by its sales. Asset…

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A: Lets understand the basics.Net income is a income earned by deducting all expenses from the sales…

Q: 00; its capital expenditures were $95,000

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Q: Sophia Corp. reported annual business revenues of $90,000 and taxable income of $46,500 (both…

A: Answer:- Revenue is $ 90000 Taxable income is $ 46500 ​​​​​The meals and entertainment…

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A: Introduction:- Cash coverage ratio is useful for identifying the amount of cash available to pay for…

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A: Cash flows means incoming of cash and outgoing of cash in the business. Cash inflows means incoming…

Q: During the year, the Senbet Discount Tire Company had gross sales of $1.09 million. The company's…

A: Operating cash flows (OCF) is the cash flows generated from normal operations- Selling and producing…

Q: Barnes' Brothers has the following data for the year ending 12/31/12: Net income = $550; Net…

A: Given, Net Income = $550 Net Operating Profit After Taxes (NOPAT) = $650 Total Assets = $2,700 Short…

Q: The Moore Enterprise has gross profit of $1,140,000 with amortization expense of $490,000. The…

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A: The remaining amount of the revenue after the deductions of the expenses and the tax amount is term…

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