For the most recent year, Falcon Industries had sales of $520,000, cost of goods sold (COGS) of $280,000, depreciation expense of $65,000, and additions to retained earnings of $60,000. The firm currently has 30,000 shares of common stock outstanding, and the previous year's dividends per share were $1.60. The income tax rate is 30%. a. What was the EBIT? b. How much in total dividends did the company pay? c. What was the company's net income?

For the most recent year, Falcon Industries had sales of $520,000, cost of goods sold (COGS) of $280,000, depreciation expense of $65,000, and additions to retained earnings of $60,000. The firm currently has 30,000 shares of common stock outstanding, and the previous year's dividends per share were $1.60. The income tax rate is 30%. a. What was the EBIT? b. How much in total dividends did the company pay? c. What was the company's net income?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
For the most recent year, Camargo, Inc., had sales of $534,000, cost of goods sold of $241,680, depreciation expense of $60,400, and additions to retained earnings of $72,800. The firm currently has 20,000 shares of common stock outstanding, and the previous year’s dividends per share were $1.35. Assuming a 22 percent income tax rate, what was the times interest earned ratio?
For the most recent year, Camargo, Incorporated, had sales of $566,000, cost of goods sold of $248,960, depreciation expense of $64,400, and additions to retained earnings of $76,800. The firm currently has 24,000 shares of common stock outstanding and the previous year's dividends per share were $1.50. Assuming a 23 percent income tax rate, what was the times interest earned ratio? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Times interest earned times
For the most recent year, Wilson Enterprises had sales of $689,000, cost of goods sold of $492,300, depreciation expense of $61,200, additions to retained earnings of $48,560, and dividends per share of $2.18. There are 12,000 shares of common stock outstanding and the tax rate is 35 percent. What is the times interest earned ratio? a. 7.15 b. 6.59 C. 5.09 d. 5.47
Net income for the year was ?
Accounting.?
If the following financial information related to XYZ Company. Total Revenues last year $870, depreciation expenses $40, costs of goods sold $350, and interest expenses $50. At the end of the year, current assets were $100 and current liabilities were $105. The company has an average tax rate of 30%. Calculate the net income for XYZ Company by setting up an income statement.
TSW Inc. had the following data for last year: Net income = $850; Net operating profit after taxes (NOPAT) = $700; Total assets = $2,800; and Total operating capital = $2,100. Information for the just-completed year is as follows: Net income = $1,200; Net operating profit after taxes (NOPAT) = $950; Total assets = $2,450; and Total operating capital = $2,350. How much free cash flow did the firm generate during the just-completed year? Group of answer choices $595 $770 $700 $630 $735
A Company recently reported $15,500 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depreciation. It had $9,000 of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate was 40%. How much was the firm's Operating Income (earnings before interest and taxes - EBIT)?
Financial accounting
At the end of last year, River Side Company achieved $9 million in revenues (EBITDA). Depreciation expense was $2.2 million, with interest paid of $900,000 and a corporate tax rate of 32%. At the end of the fiscal year it had current assets totaling $12 million, $2 million in accounts payable, $1.4 million in accrued liabilities, $1.2 million in other payables, and $7 million in property, plant, and equipment. Assume that River Side has no excess cash, uses debt and equity to finance its operations, has no current liabilities, and recognizes depreciation periodically. Determine the company's net income or loss. Calculate net working capital and operating working capital.
Medium Manufacturers, Inc. (MMI) has the following items on its Income Statement for last year: Sales of $459,500, Cost of Goods Sold of $325,789, Cash Operating Expenses of $45,795, Depreciation Expense of $33,595, Interest Expense of $8,796, and a Marginal Tax Rate of 25%. Medium Manufacturers, Inc. (MMI) has the following items on its Balance Sheet for last year: Cash of $16,495, Accounts Receivable of $49,786, Inventory of $54,997, Short Term Investments of $85,039, Gross Fixed Assets of $429,750, Accumulated Depreciation of $95,847, Accounts Payable of $39,875, Accrued Expenses of $5,496, Short Term Notes Payable of $17,950, Long Term Debt of $105,345, Common Stock of $75,678 with a $1 Par Value, Additional Paid in Capital of $95,876, and Retained Earnings of $200,000. MMI paid Cash Dividends last year of $10,243. 9) What was MMI’s Beginning of Year Retained Earnings Balance last year to the nearest cent?