For the most recent year, Seether, Inc., had sales of $439,000, cost of goods sold of $219,200, depreciation expense of $58,900, and additions to retained earnings of $51,100. The firm currently has 24,000 shares of common stock outstanding, and the previous year's dividends per share were $1.45. The income tax rate is 32 percent. a. What was the EBIT? b. How much in total dividends did the company pay? c. What was the company's net income? d. What was the company's earnings before tax (EBT)?
For the most recent year, Seether, Inc., had sales of $439,000, cost of goods sold of $219,200, depreciation expense of $58,900, and additions to retained earnings of $51,100. The firm currently has 24,000 shares of common stock outstanding, and the previous year's dividends per share were $1.45. The income tax rate is 32 percent. a. What was the EBIT? b. How much in total dividends did the company pay? c. What was the company's net income? d. What was the company's earnings before tax (EBT)?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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