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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The following information is available for Skysong Corp. for the year ended December 31, 2025. Other revenues and gains $21,600 Other expenses and losses 3,000 Cost of goods sold 281,000 Sales discounts 3,200 Sales revenue 746,000 Operating expenses 210,000 Sales returns and allowances 8,800 Prepare a multiple-step income statement for Skysong Corp. The company has a tax rate of 25%.
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The following information is available for Tamarisk Corp. for the year ended December 31, 2022. Other revenues and gains $23,800 Other expenses and losses 4,000 Cost of goods sold 292,000 Sales discounts 4,600 Sales revenue 760,000 Operating expenses 221,000 Sales returns and allowances 10,800 Prepare a multiple-step income statement for Tamarisk Corp. The company has a tax rate of 25%.
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Base on the income statement below, and if my Ave total assets is 1,725.What is my Return on assets? Formula:Return on Assets = Net Income (before Interest znd Tax) / Average Total assets Thanks in Advance, expert!
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Use the following information from separate companies a through d Net Income (Loss) Income Taxes $ 44,500 $ 178,000 172, 600 62, 136 151,300 52,955 63,546 181, 100 7,244 86,928 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? a. b. C. d. Answer is not complete. Complete this question by entering your answers in the tabs below. Times Interest Interest Earned Ratio Coverage Compute times interest earned. Company Interest Expense $ 85,440 43, 150 a b d Times Interest Earned Ratio Choose Numerator: Income before interest and taxes $ $ $ $ Choose Denominator: Interest expense / 178,000 X/ $ $ 172,600 X/ 151,300 X/ $ 181,100 1 $ Times Interest Earned Ratio 85,440 43,150 52,955 7,244 = Ratio 2.08 4.00 2.86 25.00 times times times times Interest Coverage >
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When net profit as per cost accounts and financial accounts is given The net profițs of a manufacturing company appeared at 74,000 as per financial records for the year ended 31st March, 2020. The cost books, however, showed a net profit of 88,460 for the same period. A careful scrutiny of the figure from both the sets of accounts reveled the following facts: (i) Income tax provided in financial books { 10,000 { 250 You are required to prepare (a) the reconcilitation statement (b) a Memorandum Reconcilation account (ii) Bank interest credited in financial books (iii) Works overhead under -recovered in cost books { 1,550 (iv) Depriciation charged in financial books { 5,600 (v) Depriciation recoverd in costing books { 6,000 (vi) Administrative overheads over recovered 7850 (vii) Loss due to obsolescene charged in financial accounts 32,800 (viii) Intereast on Investments not includeded in cost accounts { 2,000 (ix) Stores adjustments (Credited in financial books) 3240 (x) Loss due to…
(Click the icon to view the information.) The company is subject to a 40% income tax rate. Read the requirements. Requirements a. Prepare a single statement of comprehensive income beginning with operating income. b. Prepare separate statements of net income and comprehensive income. Print - X Done More info 1. Operating income amounted to $310,000. 2. The company sold investments in bonds at a pre-tax loss of $19,000. 3. Tall reported a $5,800 unrealized loss on an available-for-sale portfolio that is included in other comprehensive income. 4. The company reported a $17,000 unrealized gain on its trading portfolio, which is included in net income. 5. Tall committed to discontinue its retail lumber stores division on January 1 of the current year. The retail lumber stores meet the criteria to be presented as a discontinued operation. The retail lumber stores accounted for 25% of the company's operating income. The stores were operated all year. 6. The retail lumber stores division was…

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