Net Income $200,000 Depreciation Expense 30,000 Gain on sale of truck 8,000 Proceeds from sale of truck 5,000 Decrease in accounts receivable 10,000 how much is operating expense?
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Net Income $200,000
Gain on sale of truck 8,000
Proceeds from sale of truck 5,000
Decrease in
how much is operating expense?
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- Based on the table given below, Net Income Model Data 1 B Sales Cost of Goods Sold $10.000.000 6400.000 Administrative Expenses 500,000 Selling Expenses 5.900.000 Depreciation Expenses 250.000 10 Interest Expenses 20000 11 Taxes $620,000 12 13 Model 14 15 Kiss Profi 1,000,000 16 Operating Expenses 52.110.000 19 Net Operating Inome 1.450.000 arnings Before Tenes 1350.000 19 20 Net Income which of the following formulas would be used to calculate the net income value using only the information in the Model, and not in the Data section?. -B6-B15 -B15-B16-B17+B18 -B5-B17 -B18-B11You are given the following information for Smashville, Inc. Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: Gross margin Operating margin Return on assets Return on equity $174,000 $ 1,400 $379,000 $ 86,000 $ 7,400 8,000 $ % % % % 40% $ 21,000 $ 21,000 $ 46,000 $ 38,000 $130,000 Calculate the gross margin, the operating margin, return on assets, and return on equity. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) $ 3,000 $ 34,000 $ 64,000Consider the following income statement: Sales Costs $ 602,184 391,776 Depreciation 89,100 Taxes Calculate the EBIT. EBIT 21% Calculate the net income. Net income
- The following is information for Charles Company for the current year Cost of Goods Sold Operating Expenses Other Income and (Expenses) Gain on Sale of Equipment Loss on Disposal of Equipment Descontinued Operations Gain Income Tax Expense What is the company's net income for the year? $214,000 151.000 19,000 7.000 (6,000) 2,000 40%Breanna Inc. Accounts receivable$10,700Accumulated depreciation 50,800Cost of goods sold 123,000Income tax expense 8,000Cash 62,000Net sales 201,000Equipment 128,000Selling, general, and administrative expenses 32,000Common stock (8,700 shares) 90,000Accounts payable 14,300Retained earnings, 1/1/19 30,000Interest expense 5,600Merchandise inventory 38,600Long-term debt 38,000Dividends declared and paid during 2019 16,200 Item1 Time Remaining 2 hours 32 minutes 36 seconds 02:32:36 Item 1 Time Remaining 2 hours 32 minutes 36 seconds 02:32:36 The information on the following page was obtained from the records of Breanna Inc.: Accounts receivable $ 10,700 Accumulated depreciation 50,800 Cost of goods sold 123,000 Income tax expense 8,000 Cash 62,000 Net sales 201,000 Equipment 128,000 Selling, general, and administrative expenses 32,000 Common stock (8,700 shares) 90,000 Accounts payable 14,300 Retained earnings, 1/1/19…You are given the following information for Smashville, Incorporated. $249,000 $ 2,900 $ 394,000 $ 92,000 $ 7,400 $ 13,000 Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: 21% Gross margin Operating margin Return on assets Return on equity $ 22,000 $ 21,000 $9,000 $ 37,000 $ 139,000 $ 5,000 $ 13,000. $ 49,000 Calculate the gross margin, the operating margin, return on assets, and return on equity. Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. % % % %
- The income statement for Northeast Co, is shown below. How much is net operating profit after taxes (NOPAT)? (Note: all dollars shown in 000's.) Sales $4,000.00 Costs 2,400.00 Depreciation 200.00 EBIT 1,400.00 Interest Expense 400.00 EBT 1,000.00 |Таx (21%) 210.00 Net Income 790.00 O $1.106.00 O$624.10 O $910.00 O$1.264.00 O$1.000.00Dr. Cr. Cash Accounts receivable Allowance for Doubtful Accts Inventory Equipment Accumulated Depreciation Accounts Payable 65,000 28,000 7,000 12,500 60,000 12,750 23,000 6,000 35,000 38,000 21,000 Unearned Revenue Long Term Note Payable Common Stock Retained Earnings Dividends Sales Cost of goods sold Repairs expense Salaries expense Depreciation expense Insurance expense Interest income Interest expense Income tax expense Total 10,000 130,000 52,000 6,500 25,000 3,000 4,500 1,250 4,000 3,500 274,000 274,000 What is the amount of Total Assets?Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: $ 169,000 $ 1,300 $ 282,000 $ 44,000 Book value per share Earnings per share Cash flow per share $ 7,400 $5,000 21% $ 22,000 $ 21,000 $ 92,000 $ 37,000 $ 120,000 $ 6,000 $ 33,000 $ 64,000 During the year, Smashville, Incorporated, had 20,000 shares of stock outstanding and depreciation expense of $15,000. Calculate the book value per share, earnings per share, and cash flow per share. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. $ 7.75
- Condensed financial data of Cullumber Company follow. Cullumber Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total 2022 $100,000 91,000 111,000 29,000 139,000 113,000 274,000 241,000 (46,000) (51,000) $698,000 $508,000 2021 $47,000 32,000 101,000 25,000 $111.000 $67,000 16,000 17,000 149,000 174,000 101,000 $508,000 110,000 219,000 242,000 $698,000Green Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $70,000, and operating profit of $90,000. What was the value of depreciation expense? a.$230,000 b.None of these c.Less than $170,000 d.$170,000Post Company Sign Company Item Debit Credit Debit Credit Cash 10,000 15,000 Accounts Receivable 33,000 20,000 Inventory 260,000 80,000 Land 80,000 80,000 Buildings and Equipment 500,000 150,000 Investment in Sign Company 215,000 Cost of Goods Sold 120,000 50,000 Depreciation Expense 25,000 15,000 Other Expenses 15,000 5,000 Dividends Declared 30,000 10,000 Accumulated Depreciation 205,000 105,000 Accounts Payable 40,000 20,000 Notes Payable 200,000 50,000 Common Stock 300,000 100,000 Retained Earnings 318,000 50,000 Sales 200,000 100,000 Income from Sign Company 25,000 $ 1,288,000 $ 1,288,000 $ 425,000 $ 425,000 Additional Information: 1. Post Company acquired 100 percent ownership of Sign Company on January 1, 20X8 for $200,000. The book value of Sign's net assets at acquisition was $150,000. 2. The book value and fair values of Sign's assets and liabilities were equal, except for Sign's buildings and equipment, which were worth $50,000 more than book value. Buildings and equipment…
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