Elgin Battery Manufacturers had sales of $840,000 in 2021 end their cost of goods sold is 562.800 Selling and administrative expenses were 75,600 Depreciation expense was $19,000 and interest expense for the year was $12.000 The firm's tax rate is 35 percent What is the dollar amount of taxes paid in 2021? Multiple Choice $172.974 $59.710 $198.400 $61.910

Elgin Battery Manufacturers had sales of $840,000 in 2021 end their cost of goods sold is 562.800 Selling and administrative expenses were 75,600 Depreciation expense was $19,000 and interest expense for the year was $12.000 The firm's tax rate is 35 percent What is the dollar amount of taxes paid in 2021? Multiple Choice $172.974 $59.710 $198.400 $61.910

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

See similar textbooks

Similar questions

What the answer for 27 The first answer I had was 61,800 The second answer was 25,200 Both was wrong
1 Lemon Auto Wholesalers had sales of $1,400,000 last year, and cost of goods sold represented 77 percent of sales. Selling and administrative expenses were 13 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $9,000. The firm's tax rate is 30 percent. a. Compute earnings after taxes. Lemon Auto Wholesalers Income Statement $ $ $ 0 Anali 0 0 0 b-1. Assume the firm hires Ms. Carr an efficiency expert as a consultant. She suggests that by increasing selling and administrative
Assuming Sunny-D Cafe has a tax rate of 30 percent, calculate sales for the firm given the following financial information: net income of $37,900; interest expense of $11,500; depreciation expense of $14,200; and costs of $80,900. Points: 1 A. $144,500 B. $154,143 C. $160,743 D. $165,114 E. Remember to breathe
Net income
14 Victory ML Bus company has the following data for the first quarter of 2021: Gross receipt from passengers P 8,000,000 Gross revenue from cargo operations 5,000,000 Expenses – Passengers operation 4,750,000 Expenses – Cargo operations 2,500,000 Gross receipt from rental of facilities 2,000,000 Additional info: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarter Required: determine the total business tax due for the first quarter
A company has profit before interest and tax of £66000Interest payable is £6000Tax is payable at 25% What is the profit after Tax? £
View Policies Current Attempt in Progress A company has the following balances: Sales revenue $312.000: Sales Returns and Allowances $2.000: Sales Discounts $4,000: Cost of Goods Sold $184,000: Operating Expenses $84,000. Assume there are no other revenues, other expenses, or income tax expense. How much is the profit margin? O 16.0% O 12.2% O 12.4% O 41.0 % eTextbook and Media Hint 4 ! Save for Later Using multiple attempts will impact your score 10% soore reduction after attempt 1 Attempts; unlimited Submit Answer
Nu Company reported the following pretax data for its first year of operations. Net sales 2,960 Cost of goods available for sale 2, 480 Operating expenses 830 Effective tax rate 20% Ending inventories: If LIFO is elected 940 If FIFO is elected 1, 150 What is Nu's net income if it elects LIFO? Multiple Choice $800 $ 640 $472 $590
Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes Interest Income before taxes Taxes (35%) Income after taxes. LANCASTER CORPORATION a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. Times interest earned Fixed charge coverage times b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. times $ 259,000 209,000 $ 50,000 24,500 $ 25,500 19,000 $ 6,500 2,275 $ 4,225
ff1
Question: During the year, the Senbet Discount Tire Company had gross sales of $1.08 million. The firm's cost of goods sold and selling expenses were $527,000 and $217,000, respectively. The firm also had notes payable of $820,000. These notes carried an interest rate of 5 percent. Depreciation was $132,000. The firm's tax rate was 40 percent. What was the firm's net income?

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS