None Oakdale Fashions, Incorporated's, income statement is reported below. (Usecorporate tax rate of 21 percent for your calculations.)Oakdale Fashions, Incorporated, Income StatementNet sales (all credit)Less: Cost of goods soldGross profitsLess: Other operating expensesEBITDALess: Depreciation and amortizationEBITLess: InterestEBTLess: Taxes$ 620,000237,000$ 383,000112,000$ 271,00017,200$ 253,80085,500$ 168,300Net incomeDetermine the firm's tax liability.Tax liability$35,343Determine the firm's net income.

Step 1: Calculate the Tax Liability:The Earnings Before Taxes (EBT) is $168,300.The corporate tax…

Answered: Oakdale Fashions, Incorporated's,…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

See similar textbooks

Similar questions

Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.
Fill in the missing numbers for the following statement of comprehensive income. (Input all amounts as positive values. Omit $ sign in your response.) Sales Costs Depreciation EBIT Taxes (34%) Net income Calculate the OCF. OCF $ What is the CCA tax shield? CCA tax shield 733,500 503,300 89,400
Please do not give solution in image format ?.
Answer with explanation, please fast i give you upvote.
Give answer with explanation
Use the following information for Taco Swell, Incorporated, (assume the tax rate is 22 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 $ 23,549 2,516 6,390 1,441 1,180 8,746 11,628 1,814 29,480 73,091 6,353 20,662 2,679 Cash flow from assets Cash flow to creditors Cash flow to stockholders 2021 $ 19,188 2,624 6,871 1,248 1,395 9,667 13,902 1,781 35,579 78,030 7,060 22,002 2,454 For 2021, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
You are given the following information for Smashville, Incorporated. Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: $ 184,000 $ 1,600 $ 387,000 $ 88,000 $ 7,400 $ 6,000 21% $ 12,000 $ 21,000 Long-term debt: $ 32,000 $ 40,000 Other assets: Fixed assets: Other liabilities: Investments: Operating assets: $ 125,000 $ 5,000 $ 36,000 $ 64,000 During the year, Smashville, Incorporated, had 17,000 shares of stock outstanding and depreciation expense of $19,000. At the end of the year, Smashville stock sold for $42 per share. Calculate the price-book ratio, price-earnings ratio, and price-cash flow ratio. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Answer is not complete. Price-book ratio Price-earnings ratio Price-cash flow ratio 15.19
Please do not give solution in image format thanku
Use the following information for Ingersoll, Incorporated. Assume the tax rate is 22 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends Current assets 2020 2021 $18,573 $17,136 1,876 4,847 894 996 1,801 4,679 1,016 865 Assets 6,277 8,180 1,310 6,886 9,847 1,287 20,740 24,986 51,196 54,693 4,608 5,064 14,521 15,428 1,650 1,758 Prepare a balance sheet for this company for 2020 Ind 2021. (Do not round intermediate calculations.) INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021
A company has the following income statement. What is its net operating profit after taxes (NOPAT)? Round it to a whole dollar. Will need to find EBIT first. Sales $ 1,050 Costs 600 Depreciation 170 EBIT $ ? Interest expense 50 EBT $ ? Taxes (24%) ? Net income $ ?
a. Fill in the missing numbers in the following income statement: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32. Sales Costs Depreciation EBIT Taxes (21%) Net income $ 544,300 349,300 97,300 b. What is the OCF? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. b. OCF c. Depreciation tax shield c. What is the depreciation tax shield? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.
Baghiben

SEE MORE QUESTIONS

Recommended textbooks for you

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning