During the year, the Senbet Discount Tire Company had gross sales of $1.09 million. The company's cost of goods sold and selling expenses were $578,000 and $231,000, respectively. The company also had notes payable of $700,000. These notes carried an interest rate of 6 percent. Depreciation was $108,000. The tax rate was 23 percent. a. What was the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) b. What was the company's operating cash flow? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

During the year, the Senbet Discount Tire Company had gross sales of $1.09 million. The company's cost of goods sold and selling expenses were $578,000 and $231,000, respectively. The company also had notes payable of $700,000. These notes carried an interest rate of 6 percent. Depreciation was $108,000. The tax rate was 23 percent. a. What was the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) b. What was the company's operating cash flow? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

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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Please do both of the questions below:- 1. Use the following information to work out the net profit before tax:Cost of sales. $60,000 Interest payable. $4000 expenses. $20,000. sales turnover. $100,000 2. Vindhya Limited earns $200,000 in sales, has expenses of $80,000 and cost of goods sold amount to $90,000. What is the firm's gross profit?
The following information is available for Tamarisk Corp. for the year ended December 31, 2022. Other revenues and gains $23,800 Other expenses and losses 4,000 Cost of goods sold 292,000 Sales discounts 4,600 Sales revenue 760,000 Operating expenses 221,000 Sales returns and allowances 10,800 Prepare a multiple-step income statement for Tamarisk Corp. The company has a tax rate of 25%.
Hedepeth fne net income for the most recent year was S15,185, The tax rate was 34 percent The mm paid $3,806 in total interest expense and deducted $2,485 in depreciation expense. a) What is the company's Earnings Before Taxes (EBT) b) What is the company's Earnings Before Interest and Taxes (EBIT) c) What is the company's Earnings Before Interest, Taxes, and Depreciation (EBITD) d) What was the cash coverage ratio for the year and how do you interpret your answer?
mashed Pumpkins Company paid $112 in dividends and $547 in interest over the past year. The company increased retained earnings by $456 and had accounts payable of $558. Sales for the year were $16, 160 and depreciation was $708. The tax rate was 25 percent. What was the company's EBIT?
Calculate the net profit for a company given the following information: total revenue of $500,000, cost of goods sold of $200,000, operating expenses of $100,000, and taxes of $50,000.
A profitable company pays $98,000 wages and has depreciation expense of $98,000.
The interest expense for a company is equal to its earnings before interest and taxes (EBIT). The company’s tax rate is 40%. The company’s times interest earned ratio is equal to A. 2.0 B. 1.0 C. 0.6 D. 1.2
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
Kwok Enterprises has the following income statement. How much after-tax operating income does the firm have? Sales $2,900 Costs 1,400 Depreciation 250 EBIT $1,250 Interest expense 70 EBT $1,180 Taxes (25%) 295 Net income $885
Oakdale Fashions, Inc.’s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 580,000 Less: Cost of goods sold 221,000 Gross profits $ 359,000 Less: Other operating expenses 96,000 EBITDA $ 263,000 Less: Depreciation and amortization 15,600 EBIT $ 247,400 Less: Interest 81,500 EBT $ 165,900 Less: Taxes Net income $ Determine the firm's 2021 tax liability. Tax liability

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