Marigold Consulting started the year with total assets of $60900 and total liabilities of $14300. During the year, the business recorded $47800 in catering revenues and $30200 in expenses. Marigold issued stock of $9300 and paid dividends of $14000 during the year. The net income reported by Marigold Consulting for the year was: $15000. $5700. $17600. $29000.

Marigold Consulting started the year with total assets of $60900 and total liabilities of $14300. During the year, the business recorded $47800 in catering revenues and $30200 in expenses. Marigold issued stock of $9300 and paid dividends of $14000 during the year. The net income reported by Marigold Consulting for the year was: $15000. $5700. $17600. $29000.

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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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.
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
Flitter reported net income of $23,500 for the past year. At the beginning of the year the company had $212,000 in assets and $62,000 in liabilities. By year end, assets had increased to $312,000 and liabilities were $87,000. Calculate its return on assets: Multiple Choice 11.1%. 9.0%. 7.5%. 35.7%. 26.0%.
TSW Inc. had the following data for last year: Net income = $800; Net operating profit after taxes (NOPAT) = $700; Total assets = $3,000; and Total operating capital = $2,000. Information for the just-completed year is as follows: Net income = $1,000; Net operating profit after taxes (NOPAT) = $925; Total assets = $2,600; and Total operating capital = $2,500. How much free cash flow did the firm generate during the just-completed year?
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Vaughn Manufacturing started the year with total assets of $304000 and total liabilities of $244000. During the year the business recorded $628000 in revenues, $335000 in expenses, and dividends of $61000. The net income reported by Vaughn Manufacturing for the year was $232000. $173000. $293000. $563000.
The balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $150,000 and $1,000,000, respectively. What is ATLF's profit margin? Select one: a. 10% Ob. 8% O c. 7.5% O d. 15% e. 12%
ABC Inc. had the following data for last year: Net income = $1000; Net operating profit after taxes (NOPAT) = $900; Total assets = $3,200; and Total operating capital = $2,200. Information for the just-completed year is as follows: Net income = $1,300; Net operating profit after taxes (NOPAT) = $1225; Total assets = $2,900; and Total operating capital = $2,800. How much free cash flow did the firm generate during the just-completed year?
The balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%
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Goldfinger Corporation had account balances at the end of the currentyear as follows: sales revenue, $29,000; cost of goods sold, $12,000;operating expenses, $6,200; and income tax expense, $4,320. Assumeshareholders owned 4,000 shares of Gold finger's common stock duringthe year. Prepare Goldfinger's income statement for the current year.