KPT Enterprises COMPARITIVE INCOME STATEMENT for years ended 31 December 2020 Revenues and gains *Sales revenue *Interest revenue *Investment Income *Other revenue Total revenue and gains Expenses and losses **Cost of goods sold **Selling and admin administrative ***Computer (operating) **Depreciation **Interest expense Total expenses and losses Income before taxes Income tax expense (25%) Net Income $277,000 $168,400 $91,875 $91,500 $628,775 $55,000 $125,000 $53,500 $53,500 $35,000 $322,000 $306,775 $76,694 $230,081 2021 $278,385 $169,242 $92,334 $91,958 $631,919 $54,863 $124,688 $53,366 $53,366 $34,913 $321,195 $310,724 $77,681 $233,043 Tax Rate 25%
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- Partial Income Statement Excel Exercise Compute the Following ՀԱՐ Sales COGS SG&A Depreciation Debt Int. Rate Tax Rate* 2019 100 40 EBITDA EBIT 25 Interest 10 EBT 0.08 Tax 0.25 Net Income ? ? ? ? ? ? Partial Balance Sheet Debt and Loans 150 Total Equity 150 Total Assets 300 Inv. Change 10 A/R Change A/P Change 35 20 Net Profit Margin Equity Multiplier Verify Dupont ROE ? סיי ? ? ? ? ? * Assume all taxes paid in current period (no accrued taxes) for rest of course CF from Operations ROE Asset Turnover CED Tt O 24Sales Costs Taxable Income Taxes Net Income Retained Earnings Dividends Lizard & Co. Balance Sheet ($ in millions) Assets Current Assets Cash Accounts Receiv. Inventory Total Current Net Fixed Assets Net PP&E Total Assets Year 1 420 360 60 20 40 40 10 Year 1 20 52 120 192 160 352 Year 2 525 450 75 25 50 50 12.5 Year 2 Current Liabilities 25 Accounts Payable 65 Notes Payable 150 Total 240 Long Term Debt 440 Growth Rate +25% 200 Owners Equity Common Stock Retained Earnings Total Total Liabilities/Equity Year 1 30 40 70 80 112 90 202 352 Year 2 30 40 70 80 112 90+50 252 402INCOME STATEMENT Year ended June 30 2022 2021 $'000 $'000Revenue 22450 18675Cost of sales 8475 8055Gross Profit 13975 10620Distribution costs 4245 3120Administrative expenses 1276 2134Selling expenses…
- This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. Cash Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable Common stock Retained earnings COMPARATIVE BALANCE SHEETS 12/31/25 Sales revenue $608000 (320000) $408000 360000 384000 288000 $1440000 $176000 352000 360000 216000 336000 $1440000 INCOME STATEMENT For the Year Ended December 31, 2025 12/31/24 $960000 (304000) $8400000 $192000 216000 480000 656000 $1544000 $96000 392000 600000 216000 240000 $1544000
- Sales COGS Gross profit G&A expenses Sales & Marketing expenses Depreciation Operating income Interest Income Before taxes Income taxes Net income $575,000 $ 1,600,000 $200,000 $ 50,000 $ 100,000 30% $ 700,000 1: Calculate Sales. 2. Calculate Income before taxes. Taxes are 30%, so you know the Net Income (Y) is a percent of "Income before taxes" (X). 3. Calculate the Income tax figure. 4. Calculate Operating Income. 5. Calculate Sales & marketing.COTB MC Qu. 16-76 (Algo) Assume a company provided the... Assume a company provided the following information: Net operating income Net income before tax Net income Gross margin The times interest earned ratio is closest to: $ 184,000 $ 170,000 $ 119,000 $ 680,000ces Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 12%) Common stock ($5 par value, 7,500 shares outstanding) Retained earnings Total liabilities and stockholders' equity Return on assets Total asset turnover Net profit margin % Year 2 % $ 220,000 119,500 100,500 59,000 41,500 11,000 $ 30,500 $7,000 15,500 43,000 49,500 $ 115,000 $ 17,500 46,500 37,500 Year 11 $ 174,500 103,000 71,500 54,500 17,000 5,500 $ 11,500 2. Compute return on assets, total asset turnover, and the net profit margin for Year 2. Note: Round your answers to 2 decimal places. $ 8,500 19,500 38,400 41,000 $ 107,400 $ 18,500 46,500 37,500 4,900 13,500 $ 115,000 $ 107,400
- Income statement for the year ended 31 December Year before last Last year £000 £000 Sales revenue 1,180 1,200 Cost of sales: (680) (750) Gross profit 500 450 Operating expenses (200) (208) Depreciation (66) (75) Operating profit 234 167 Interest (-) (8) Profit before taxation 234 159 Taxation (80) (48) Profit for the year 154 111 Statement of financial position as at 31 December Year before last Last year £000 £000 ASSETS Non-current assets Property, plant and equipment 702 687 Current assets Inventories 148 236 Trade receivables 102 156 Cash at bank 3 4 253 396 Total assets 955 1083 EQUITY AND LIABILITIES Equity £1 ordinary shares 500 500 Retained earnings 256 295 756 795 Non-current liabilities…Income statement for the year ended 31 December Year before last Last year £000 £000 Sales revenue 1,180 1,200 Cost of sales: (680) (750) Gross profit 500 450 Operating expenses (200) (208) Depreciation (66) (75) Operating profit 234 167 Interest (-) (8) Profit before taxation 234 159 Taxation (80) (48) Profit for the year 154 111 Statement of financial position as at 31 December Year before last Last year £000 £000 ASSETS Non-current assets Property, plant and equipment 702 687 Current assets Inventories 148 236 Trade receivables 102 156 Cash at bank 3 4 253 396 Total assets 955 1083 EQUITY AND LIABILITIES Equity £1 ordinary shares 500 500 Retained earnings 256 295 756 795 Non-current liabilities…Income statement for the year ended 31 December Year before last Last year £000 £000 Sales revenue 1,180 1,200 Cost of sales: (680) (750) Gross profit 500 450 Operating expenses (200) (208) Depreciation (66) (75) Operating profit 234 167 Interest (-) (8) Profit before taxation 234 159 Taxation (80) (48) Profit for the year 154 111 Statement of financial position as at 31 December Year before last Last year £000 £000 ASSETS Non-current assets Property, plant and equipment 702 687 Current assets Inventories 148 236 Trade receivables 102 156 Cash at bank 3 4 253 396 Total assets 955 1083 EQUITY AND LIABILITIES Equity £1 ordinary shares 500 500 Retained earnings 256 295 756 795 Non-current liabilities…