E F G H K BE4.2 (LO 2) Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2022. Expenses for 2022 were cost of goods sold $1,450,000, administrative expenses $212,000, selling expenses $280,000, and interest expense $45,000. Brisky's tax rate is 30%. The company had 100,000 shares authorized and 70,000 shares issued and outstanding during 2022. Prepare an income statement for the year ended December 31, 2022.
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- 3. Below is the Statement of Financial Position of Camille Corporation for the year 2020. Cash 675,000 Accounts receivable (net) 2,695,000 Inventory 2,185,000 Property, plant, and equipment (net) 10,245,000 Accounts payable and accrued liabilities 1,800,000 Income tax payable 1,500,000 Deferred tax liability 750,000 Ordinary share (100,000 @ P15 per share) 1,500,000 Preference share (50,000 @ P20 per share) 1,000,000 Ordinary share premium 3,000,000 Retained earnings, January 1 3,350,000 Net sales and other revenue 15,000,000 Cost and expenses 10,000,000 Income tax expense 2,100,000 27,900,000 27,900,000 a. Supposed that the given values above are the accounting values of the Camille Corporation, what is its book value per share? b. Suppose that the market value of property, plant, and equipment of Camille Corporation increased by P3 million while all other assets remain the same. How much is the liquidation value per share of Camille Corporation?17. Following data were taken from the records of Bassam Company for year 2020: Sales Revenues:$1,000,000; Rent revenues $6,000; Cost of Goods Sold $560,000, Selling expenses $70,000; Administrative and General Expenses $90,000; Interest expenses 20,000; Preference Shares Dividends declared and paid $60,000; Ordinary Shares Dividends declared and paid $80,000; tax rate 25%; No. of common shares outstanding 200,000 shares. Calculate Earnings per share (round answer to the nearest cent)?Pearls, Inc. had sales in 2015 of $2.1 million. The common stockholders received $600,000 in cash dividends. Interesttotaling $150,000 was paid on outstanding debts. Operating expenses totaled $300,000, and cost of goods sold was$500,000. What is the tax liability of Pearls, Inc.? Corporate tax rates are shown below:Taxable Income Marginal TaxRate$0-$50,000 15%$50,001-$75,000 25%$75,001-$100,000 34%$100,001-$335,000 39%$335,001-$10,000,000 34%$10,000,001-$15,000,000 35%$15,000,001-$18,333,333 38%Over $18,333,333 35%12. What is the purpose of using common size balance sheets and common size income statements?
- 16. In December 2020, Remal Co. had AED 200 million debt, AED 40 million in operating income, interest expense AED 4 million, AED 450 million in total assests and tax rate 35 percent. The ROA ratio is: ROA= Net Income + Interest exp Total assets.q8- Theta Ltd had Cash Flow from Operations for the last financial year of $781,000. During the year it paid $104,000 in interest. Its tax rate is 30%. Its share price is $22.35 and it has 160,000 shares outstanding. What is its P/CF ratio? a. 4.04 b. 4.19 c. 4.58 d. 5.05 Clear my choiceRhodes Corporation’s financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019 Sales $ 12,000 $ 10,000 Operating costs excluding depreciation 10,634 8,702 Depreciation and amortization 410 390 Earnings before interest and taxes $ 956 $ 908 Less interest 260 200 Pre-tax income $ 696 $ 708 Taxes (25%) 174 177 Net income available to common stockholders $ 522 $ 531 Common dividends $ 203 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 550 $ 500 Short-term investments 220 200 Accounts receivable 2,750 2,500 Inventories 1,550 1,300 Total current assets $ 5,070 $ 4,500 Net plant and equipment 3,650 3,500 Total assets $ 8,720 $ 8,000 Liabilities and Equity Accounts payable $ 1,100 $ 1,000 Accruals 550 500 Notes…
- n 2018, Beta Corporation earned gross profits of $770,000. a. Suppose that Beta was financed by a combination of common stock and $1.01 million of debt. The interest rate on the debt was 11%, and the corporate tax rate in 2018 was 21%. How much profit was available for common stockholders after payment of interest and corporate taxes? (Do not round intermediate calculations. Enter your answer in dollars not millions and round your answer to the nearest whole dollar amount.) b. Now suppose that instead of issuing debt, Beta was financed by a combination of common stock and $1.01 million of preferred stock. The dividend yield on the preferred was 9%, and the corporate tax rate was still 21%. Recalculate the profit available for common stockholders after payment of preferred dividends and corporate taxes. (Do not round intermediate calculations. Enter your answer in dollars not millions and round your answer to the nearest whole dollar amount.)In 2018, Beta Corporation earned gross profits of $720,000. a. Suppose that Beta was financed by a combination of common stock and $1.14 million of debt. The interest rate on the debt was 8%, and the corporate tax rate in 2018 was 21 %. How much profit was available for common stockholders after payment of interest and corporate taxes? (Do not round intermediate calculations. Enter your answer in dollars not millions and round your answer to the nearest whole dollar amount.) Profit available to common stockholdersXYZ Ltd.has a net income of $ 56,780. They paid $2000 in interest payments to bondholders and $4,000 in taxes to the government. What is the company's EBIT ? a $80,000 b $56,780 c $62,780 d $46,000
- 17. The following financial information was provided by Anya Company: Net Income 8,255,000.00 NOPAT 75,785,000.00 EBITDA 143,000,000.00 Net Profit Margin 6.00% Operating capital 425,070,000.00 After tax cost of capital 12.00% Tax rate 35.00% Refer to Anya Company, calculate its Interest Expense. Use 2 decimal places in your final answer18. The following financial information was provided by Anya Company: Net Income 8,255,000.00 NOPAT 75,785,000.00 EBITDA 143,000,000.00 Net Profit Margin 6.00% Operating capital 425,070,000.00 After tax cost of capital 12.00% Tax rate 35.00% Refer to Anya Company, calculate its sales. Use 2 decimal places in your final answer14. Refer to the following financial information of Scholz Company: NOPAT 8,250,000.00 EBITDA 17,725,000.00 Net Income 5,050,000.00 Capital Expenditures 6,820,000.00 After tax capital costs 6,280,000.00 Tax rate 40% Refer to Scholz Company, calculate its interest expense. Use 2 decimal places for your final answer.