Venus corp has the following income statement for the year 2020 Gross sales Sales return Sales Discount Net sales COS Salaries Depreciations expense Utilities Commissions Insurance expense Rent expense Interest expense Net income before tax Tax 25% Net income after tax Required: Compute for the time interest earned 2020 P4,750,000.00 P16,000.00 P7,000.00 $4,727,000.00 $2,299,000.00 $400,000.00 P90,000.00 P45,000.00 $50,000.00 P15,000.00 P30,000.00 $25.000.00

Venus corp has the following income statement for the year 2020 Gross sales Sales return Sales Discount Net sales COS Salaries Depreciations expense Utilities Commissions Insurance expense Rent expense Interest expense Net income before tax Tax 25% Net income after tax Required: Compute for the time interest earned 2020 P4,750,000.00 P16,000.00 P7,000.00 $4,727,000.00 $2,299,000.00 $400,000.00 P90,000.00 P45,000.00 $50,000.00 P15,000.00 P30,000.00 $25.000.00

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...

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