Consider the overall effects on Riverside Electronics of providing services on account for $78,000 and incurring operating expenses totaling $52,000. Riverside's net income or net loss? a. Net income of $26,000 b. Net loss of $26,000 c. Net income of $78,000 d. Cannot determine from the data given What is
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- What is prime cleaning solutions net income or net loss?What is prime cleaning solutions net income or net loss?ces a. Fill in the missing numbers in the following income statement: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32. Sales Costs Depreciation EBIT Taxes (23%) Net income 594,000 366,800 116,900 b. What is the OCF? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. c. What is the depreciation tax shield? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. b. OCF c. Depreciation tax shield
- Vinubhaia. Fill in the missing numbers in the following income statement: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32. Sales Costs Depreciation EBIT Taxes (21%) Net income $ 544,300 349,300 97,300 b. What is the OCF? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. b. OCF c. Depreciation tax shield c. What is the depreciation tax shield? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.Why are the following items listed as a DR? Aren't they CR accounts? Exp;enses are CR accounts aren't they since they reduce assets? Income Statement Sales and Labor Revenue $1,592,430Cost of Goods $762,200Gross Profit $ 830,230 Operating Expenses:Salary Expense $337,425Depreciation Expense $44,500 Tax Expense $30,200Insurance Expense $22,000Office Expense $3,050Miscellaneous Expense $9,730Total Expenses $446,905 $383,325
- Use the following information from separate companies a through d: Net Income (Loss) Interest Expense Income Taxes a. $ 111, 000 $ 59, 940 $ 27, 750 b. 105, 600 25, 344 38,016 c. 94, 350 25, 475 39, 627 d . 114, 100 4,564 54,768 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due?Below is financial information ($ values are in millions) in a model. Net income during the year for this company would be: Revenues SG&A Expenses Interest Expense Select one: OA. $4.5 million OB. $3.6 million O C. $16.6 million OD. $0.9 million $67.30 $4.70 $8.10 Cost of Goods Sold Depreciation Tax Rate $43.20 $6.80 20%Webby Corporation reported the following amounts onits income statement: service revenues, $32,500; utilities expense, $300; net income, $1,600; and income taxexpense, $900. If the only other amount reported on theincome statement was for selling expenses, what amountwould it be?a. $2,200 c. $30,000b. $29,700 d. $30,900
- In its income statement for the year ended December 31, 2020, Cheyenne Corp. reported the following condensed data. Operating expenses Cost of goods sold Interest expense (a) $753,390 1,293,700 72,600 V V > M Interest revenue eTextbook and Media Loss on disposal of plant assets Net sales Other comprehensive income Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Cheyenne Corp. Income Statement For the Year Ended December 31, 2020 $ 30,920 $ 16,420 2.404.800 6.970 $Use the following information from separate companies a through d. Net Income (Loss) $ 103,000 97,600 87,550 106,100 a. b. C. d. Interest Expense $ 58,710 15,616 21,888 4,244 Income Taxes $ 25,750 35, 136 36,771 50,928 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due?Edison Company reported the following for the current year: $ 84,000 59,000 21,080 63,000 77,080 Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets Compute (a) profit margin and (b) return on total assets. Complete this question by entering your answers in the tabs below. Profit Margin Ratio Compute the return on total assets. Return On Total Assets Numerator: 7 7 7 Return On Total Assets Denominator: = Return On Total Assets Return on total assets II =