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Operating revenues 5,500 Cost of sales 3,000

Operating revenues 5,500 Cost of sales 3,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Operating revenues 5,500 Cost of sales 3,000 Other operating expenses 1,500 Operating income before tax A Tax as reported B Tax benefit of interest expense Operating income after tax D Interest expense before tax E Tax benefit of interest expense (E). Interest expense after tax 60 Comprehensive income 500 1. Identify the missing numbers. 2. Calculate the fırm's effective tax rate on operating income
Transcribed Image Text:Operating revenues 5,500 Cost of sales 3,000 Other operating expenses 1,500 Operating income before tax A Tax as reported B Tax benefit of interest expense Operating income after tax D Interest expense before tax E Tax benefit of interest expense (E). Interest expense after tax 60 Comprehensive income 500 1. Identify the missing numbers. 2. Calculate the fırm's effective tax rate on operating income
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