The Moore Corporation had an operating income (EBIT) of $950,000. The company's depreciation expense is $285,000. Moore's 100% equity financed, and it faces a 35 percent tax rate. What are the net income and the net cash flows?
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- 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?Please Solve Financial AccountingSun, Incorporated has sales of $42,730, costs of $13,830, depreciation expense of $2,030, and interest expense of $1,210. The tax rate is 20 percent. What is the firm's Operating Cash Flow?
- A debt-free firm has profit for the year of $210 000, taxes of $55 822.78 and depreciation of $42 000. What is the operating cash flow?WayneCorp, Inc., has sales of $581, 000, costs of $244, 000, depreciation expense of $36,000, interest expense of $18,000, and a tax rate of 32 percent. (Do not include the dollar sign ($).) What is this firm's net income?If a firm’s taxable income is $10 million, the tax liability is $3 million, and dividends paid are $2 million, what is the addition to retained earnings? (Please show work and explain) For a firm with the following info., what is the value of equity? Prepaid expenses=$2 million, Cash=$4 million, Accounts payable=$1 million, Long-term debt=$43 million, Inventory=$10 million, Notes payable=$5 million, Net property, plant, and equipment=$34 million, Accounts receivable=$5 million. (Please show work and explain)
- Assume a corporation has earnings before depreciation and taxes of $82,000, depreciation of $45,000, and that it has a 25% combined tax bracket. What are the after-tax cash flows for the company?Aurora Lighting Ltd has the following income statement items: sales of $12 000 000; cost of goods sold of $4 000 000; other operating expenses of $1 500 000; and interest expense of $50 000. Calculate gross profit margin of the company? Calculate earnings before interest and tax (EBIT) of the company? Calculate net income of the company given the company’s marginal tax rate of 25%? What are the three important questions of corporate finance? Briefly describe and relate them to the balance sheet of a company.Leo's Corp has sales of $ 684,000, operating expenses of $ 437,000, interest expense of $ 13,800, total assets of $ 712,000, and depreciation of $ 109,400. Your annual tax rate is 21% and your equity multiplier is 1.6. How much is your ROE?
- A firm has the following accounts.: Sales = $10,346,000; Cost of goods sold = $6,005,000; Addition to retained earnings = $225,000; Dividends paid to stockholders = $225,000; Interest expense = $1,500,000. The firm's tax rate is 21%. What is the firm's annual depreciation expense? O $2,271,380 $2,469,099 O $4,341,000 $2,069,620ACME Corp’s balance sheet reported that it had $650,000 in liabilities and $275,000 in equity. On the income statement the company had revenues of $867,030 and expenses (excluding depreciation) of $356,240. Depreciation was $103,456 and interest expense of $52,423. Assuming a 40% tax rate, what was the company's return on assets?Talbot Enterprises recently reported an EBITDA of $8 million and net incomeof $2.4 million. It had $2.0 million of interest expense, and its corporate taxrate was 40%. What was its charge for depreciation and amortization?