You are given the following information for Troiano Pizza Company: sales $78,500; costs $38,200; addition to retained earnings = $6,950; dividends paid = $2,490; interest expense = $5,540; tax rate=21 percent. Calculate the net income. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Net income Calculate the taxable income. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Taxable income EBIT Calculate the EBIT. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Iculate the depreciation expense. te: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. preciation expense

You are given the following information for Troiano Pizza Company: sales $78,500; costs $38,200; addition to retained earnings = $6,950; dividends paid = $2,490; interest expense = $5,540; tax rate=21 percent. Calculate the net income. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Net income Calculate the taxable income. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Taxable income EBIT Calculate the EBIT. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Iculate the depreciation expense. te: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. preciation expense

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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a. Fill in the missing numbers in the following income statement: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32. Sales Costs Depreciation EBIT Taxes (21%) Net income $ 544,300 349,300 97,300 b. What is the OCF? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. b. OCF c. Depreciation tax shield c. What is the depreciation tax shield? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.
Acme Pest Control has sales of $13,500, cost of goods sold of $4,000, selling expenses of $3,500, depreciation of $2,000, interest expense of $2,000, and a tax rate of 34%. What is Acme's taxable income and tax expense?
ces a. Fill in the missing numbers in the following income statement: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32. Sales Costs Depreciation EBIT Taxes (23%) Net income 594,000 366,800 116,900 b. What is the OCF? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. c. What is the depreciation tax shield? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. b. OCF c. Depreciation tax shield
Given the following information for Sookie’s Cookies Co., calculate the depreciation expense: sales = $96,581; costs = $67,448; addition to retained earnings = $1,079; dividends paid = $329; interest expense = $1,641; tax rate = 37 percent. (Hint: Build the Income Statement and fill in the missing pieces until you get to the depreciation expense. You may have to work from bottom up.)
During the year, the Senbet Discount Tire Company had gross sales of $558,400. The company's cost of goods sold and selling expenses were $190,100 and $110,700, respectively. The company also had debt of $497,000, which carried an interest rate of 7 percent. Depreciation was $66,000. The tax rate was 22 percent. a. What was the company's net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What was the company’s operating cash flow? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
The Rollings Company had sales of $1,000 with cost of goods sold (COGS) equal to 30% of sales. Rollings also had total other operating expenses of $400, interest expense of $125, and is subject to a flat 40% of its pre-tax income in income taxes. What is Rollings’ net income?
Thrasher Company reported income before taxes of $180,000. The company is in a 30% income tax bracket. Also, Thrasher's income statement contained a charge for interest expense amounting to $60,000. Based on this information alone, what is the company's times-interest-earned ratio? Multiple Choice 4.0 3.1 2.1 3.0
Rourke Enterprises is owned by Dallas. For the year, Rourke had net income per books of $450,000. This included the following items: Federal income tax expense $125,000 Bad Debt Expense1 $80,000 Rent $50,000 Meals $45,000 Depreciation expense2 $105,000 Dividends3 $50,000 1 This was calculated using the allowance method. Using specific write-off, this would have been $50,000. 2 Sum-of-the-years-digits method was used for book purposes. Had MACRS been used, depreciation expense would have been $125,000. Had straight-line been used, depreciation would have been $95,000. 3 These dividends were from Mavis, Inc. Jiminy owns 75% of Jepeto. During the year, Rourke pays Dallas distribution of $500,000. Dallas has a basis of $600,000 in her stock. What are the tax consequences of the distribution to Dallas? What basis will…
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You are given the following information for Oceans of Fun.: sales = $74, 020; costs = $34, 980; addition to retained earnings 59,540; dividends paid $7,800; interest expense $2, 580; tax rate = 21 percent. Calculate the depreciation expense. (Do not round intermediate calculations.)
Lantos Company had a 20 percent tax rate. Given the following pretax amounts, what would be the income tax expense reported on the face of the income statement? Sales revenue Cost of goods sold Salaries and wages expense Depreciation expense Dividend revenue Utilities expense Discontinued operations loss Interest expense $1,000,000 600,000 80,000 110,000 90,000 10,000 100,000 20,000 Example of Answer: 4000 (No comma, space, decimal point, or $ sign)
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