Sales revenue Variable expenses Contribution margin Fixed expenses Operating income Income taxes Net income $ 236,352 95,012 15,897 $11,128 $ b. $537,356 $ 168,652 90,292 23.508 98,944 138,768 16,027 $48,081 d. $667,836 453,504 59,104 $177.312

Sales revenue Variable expenses Contribution margin Fixed expenses Operating income Income taxes Net income $ 236,352 95,012 15,897 $11,128 $ b. $537,356 $ 168,652 90,292 23.508 98,944 138,768 16,027 $48,081 d. $667,836 453,504 59,104 $177.312

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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ElectrohicS Tannenhill Industry Company Average Sales $1,510,000 100 % Cost of goods sold 921,100 67 Gross profit $588,900 33 % Selling expenses $362,400 19 % Administrative expenses 135,900 8. Total operating expenses $498,300 27 % Operating income $90,600 6 % Other revenue 30,200 2 $120,800 8 % Other expense 15,100 1 Income before income tax $105,700 7 % Income tax expense 45,300 5 Net income $60,400 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average Sales $1,510,000 % 100.0% Cost of goods sold 921,100 % 67% Gross profit $588,900 % 33% Selling expenses $362,400 % 19% Administrative expenses 135,900 % 8% Total operating expenses $498,300 % 27% Income from…
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Required:a) Compute the times-interest earned and give the interpretation.b) Compute the fixed charge coverage and give the interpretation.
82. Use the following information (in thousands): Service Revenue Income from continuing operations Net Income ¥1,600,000 ⚫200,000 180,000 440,000 Selling & administrative expenses 1,000,000 Income from operations Income before income tax Determine the amount of income tax. a. ¥40,000 b. ¥20,000 c. ¥200,000 d. ¥160,000 400,000
Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income (a) $1,360,000 Q Search Baseball V V 919,000 V 123,800 317,200 183,800 85,200 65,000 ($16,800) Soccer $3,900,000 2,535,000 $ 202,200 $ 1,162,800 624,000 91,000 139,000 Basketball $2,560,000 2,065,600 178,000 316,400 Baseball 256,000 78,900 104,900 $308,800 ($123,400) Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division (If the amount is negative then enter with a negative sign preceding the number, e.g.-5.125 or parenthesis, eg (5,125)) C $ Total $7,820,000 5,519,600 $ 504,000 F 1,796,400 1,063,800 255,100 308,900 $168,600 Soccer $ B:
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Large Company $ Net sales 379,420 163,100 216,320 Cost of sales Gross profit Selling, general, and administrative $ 146,610 expenses Operating income $ 69,720 Net income 41,610 50,480 Cash and cash equivalents Net receivables 17,400 Inventories 223,430 315,160 Total current assets Property and equipment 81,880 Other assets 66,040 Total assets 463,090 29,540 Accounts payable Stockholder equity 261,130 What is the value of C2C in weeks? (Choose the closest) 31.47 -12.81 -5.82 64.20 4.
View Policies Current Attempt in Progress A company has the following balances: Sales revenue $312.000: Sales Returns and Allowances $2.000: Sales Discounts $4,000: Cost of Goods Sold $184,000: Operating Expenses $84,000. Assume there are no other revenues, other expenses, or income tax expense. How much is the profit margin? O 16.0% O 12.2% O 12.4% O 41.0 % eTextbook and Media Hint 4 ! Save for Later Using multiple attempts will impact your score 10% soore reduction after attempt 1 Attempts; unlimited Submit Answer
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