Financial accounting questions Tribble Company has provided the following data:Sales$5,000,000Interest expense$30,000Total assets, beginning of year $185,000Total assets, end of year$215,000Tax rate30%Return on total assets15.5%Tribble Company"s net income was:A) $1,000B) $10,000C) $22,000D) $31,000

Step 1: Define Return on Total AssetsThe total assets of the company consist of both the current…

Answered: Tribble Company has provided the…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
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Tribble Company has provided the following data: Sales $5,000,000 $30,000 Interest expense Total assets, beginning of year $185,000 Total assets, end of year Tax rate $215,000 30% 15.5% Return on total assets Tribble Company"s net income was: A) $1,000 B) $10,000 C) $22,000 D) $31,000
Following is information from Eagle Inc. for Year 7, ($ in thousands). Total revenue $2,887,892 Total revenue growth rate 4% Net operating profit margin (NOPM) 5.7% Net operating profit after tax (NOPAT) $207,262 Net operating asset turnover (NOAT) 4.37 Projected net operating assets (NOA) for Year 8 is: $687,279 thousand $660,845 thousand $637,953 thousand $698,513 thousand None of these are correct.
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Financial Information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization Earnings before interest and taxes (EBIT) Interest Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Earnings before taxes (EBT) Taxes (25%) Net Income Common dividends Powell Panther Corporation: Balance Sheets as of December 31 (millions of dollars) 2020 2021: $ b. What was the 2021 free cash flow? 2021 $3,300.0 2,805.0 $495.0 $ 2020 $3,000.0 2,550.0 $450.0 72.0 $378.0 66.0 $312.0 124.8 $187.2 $181.6 $149.8 -Select- 86.0 $ 409.0 72.6 $ 336.4 134.6 $201.8 2021 50.0 $ 483.0 725.0 $1,258.0 864.0 $2,122.0 $264.0 225.0 Notes payable 66.0 Total current liabilities $ 555.0 Long-term bonds 660.0 Total liabilities…
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Tribble Company has provided the following data: Sales $5,000,000 Interest expense $30,000 Total assets, beginning of year $185,000 Total assets, end of year $215,000 Tax rate 30% Return on total assets 15.5% Tribble Company"s net income was: A) $1,000 B) $10,000 C) $22,000 D) $31,000