State Farm Insurance, has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 35 percent. What is the net income for this firm?
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- Griffin's Goat Farm, Incorporated, has sales of $724,000, costs of $215,000, depreciation expense of $40,000, interest expense of $32,000, and a tax rate of 24 percent. What is the net income for this firm?Lifeline, Inc., has sales of $830,362, costs of $376,820, depreciation expense of $39,240, interest expense of $35,120, and a tax rate of 30 percent. What is the net income for this firm? (Hint: Build the Income Statement)What is the operating cash flow?
- Griffin's Goat Farm, Inc., has sales of $681,000, costs of $350,000, depreciation expense of $78,000, interest expense of $48,500, and a tax rate of 24 percent. What is the net income for this firm? (Do not round intermediate calculations.)The Berndt Corporation expects to have sales of 12 million. Costs other than depreciation are expected to be 75% of sales, and depreciation is expected to be 1.5 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. Berndts federal-plus-state tax rate is 40%. Berndt has no debt. a. Set up an income statement. What is Berndts expected net income? Its expected net cash flow? b. Suppose Congress changed the tax laws so that Berndts depreciation expenses doubled. No changes in operations occurred. What would happen to reported profit and to net cash flow? c. Now suppose that Congress changed the tax laws such that, instead of doubling Berndts depreciation, it was reduced by 50%. How would profit and net cash flow be affected? d. If this were your company, would you prefer Congress to cause your depreciation expense to be doubled or halved? Why?AEI Incorporated has $5billion in assets, and its tax rate is 40%. Its basic earning power (BEP) ratio is 11%, and its return on assets (ROA) is 10%. What is its net income?
- Daniel's Market has sales of $36,000, costs of $28,000, depreciation expense of $3,000, and interest expense of $1,500. If the tax rate is 30 percent, what is the operating cash flow, OCF?Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's income before tax? O $10,865,000 O $25,115,000 O $750,000 O $4,360,000Bank Three has equity = $250 million, return on equity (ROE) = 15%, interest expense = $105 million, provision for loans (P) = $30 million, noninterest income = $45 million, noninterest expense = $20 million and a tax rate = : 34%. What is the total interest income required? A. $216.82 million. B. $236.82 million. C. $146.82 million. D. $166.82 million.