yron Brock’s inc recently reported $13 million of net income. It’s EBIT was $20375000, and it’s tax rate was 35%. What was urs interest expense

Q: Made Answer

A: Given:Gross Sales =$1,130,000Cost of Goods Sold (COGS) =$532,000Selling Expenses =$222,000Notes…

Q: solve this one please

A: To calculate the cash paid for income taxes during the year, we need to adjust the income tax…

Q: Talbot Enterprises recently reported an EBITDA of $7.0 million and net income of $1.75 million. It…

A: EBITDA = $7.0 millionNet Income = $1.75 millionInterest Expense = $2.03 millionFederal Tax Rate =…

Q: Mo’s INC recently reported an EBITDA of $15 million and net income of $5.3 million. It had $3…

A: Depreciation refers to spreading the cost of fixed assets over their useful life. It includes all…

Q: Ashvinn

A: Option a:  7.3This option is correct because the calculation we performed earlier showed that…

Q: Solomon, Inc. paid $215 in dividends and $507 in interest expense.  The addition to retained…

A: EBT is earnings before taxes. Earnings before taxes are calculated by deducting Interest from…

Q: 13. Pfizer had EBIT of $311 million in 2010.  Pfizer also had interest expenses of $115 million and…

A: Earning Before Interest & Taxes (EBIT) = $ 311 Million Interest Expenses = $115 Million…

Q: Averill Products Inc., reported the following on the company's income statement in 20Y8 and 20Y9:…

A: The Time interest earned ratio compares the earnings before interest and tax with the interest…

Q: The Johnson's Company had net income(after tax) = 500,000 USD, Johnson's Company's income statement…

A: Times Interest Earned is the ratio that depicts how many times the organization can cover its…

Q: Byron Books Inc. recently reported $18 million of net income. Its EBIT was $34.3 million, and its…

A: Here,Net Income = $18,000,000EBIT = $34,300,000Tax rate = 25%To Find:Interest expense =?

Q: Your pro forma income statement shows sales of $982,000, cost of goods sold as $482,000,…

A: Earnings before interest and taxes: Earnings before interest, depreciation and taxes are the…

Q: Holly’s Art Galleries recently reported $7.9 million of net income. Its EBIT was $13 mil-lion, and…

A: EBIT = $13 million Net income = $7.9 million Tax rate = 21%

Q: A company has interest expenses totaling = $722 MM, for which they pay 7%/annum to their lender.…

A: Corporate financing involves the methods and sources a company uses to fund its operations and…

Q: During the year, the Senbet Discount Tire Company had gross sales of $1.09 million. The company's…

A: Sales = s = $1.09 millionCost of goods Sold = cogs = $578,000Selling Expenses = se = $231,000Notes…

Q: Bryon Inc recently reported $6million of net income. Its EBIT was $13.2 million, and its tax rate…

A: The mathematical equation of the concept used is:

Q: Suppose Ningbo Steel had sales revenue of $11,000 sales revenue, and a cost of goods sold at $5000,…

A: Net profit after tax = (sale-cogs-operating expenses)×1-tax given, sales= $11,000 COGS= $5000…

Q: Q9: You have the following data :Operating income 30,000 ID, interest revenue 5,000 ID, interest on…

A: Net profit before tax = Operating Income + Interest Revenue - Interest on notes and bonds + Rental…

Q: Staycate Travels Inc. reports a gross profit of $35,000, interest expense of $4,000, a tax rate of…

A: Formula used: Earnings after Tax = [ Gross profit - Interest expense - Depreciation expense ] x [ 1…

Q: Sheryl's Shipping had sales last year of $15,000. The cost of goods sold was $7,500, general and…

A: On statement of cash flow, the cash flow is reported under three activities that are operating,…

Q: Byron Books Inc. recently reported $12 million of net income. Its EBIT was $27.6 million, and its…

A: By working the question backwards, we can solve for the interest expense.First, we need to determine…

Q: A firm’s income statement included the following data. The firm’s average tax rate was 20%. Cost of…

A: Solution-  The income statement include all activity that affact the business over a period of time.…

Q: If a company's net income before tax is $500. If they have a corporate income tax rate of 40% what…

A: Net income is the difference between income before tax and the tax charged to the company. It can be…

Q: A company recently reported $9.7 million of net income. Its EBIT was $15.5 million, and its federal…

A: Income statement refers to the statement showing the details of the income and expenses to be…

Q: Gorilla Movers has sales of S645,560, cost of gods sold of SsA25,890, depreciation of $32,450, and…

A: The times interest earned ratio is calculated as ratio of earnings before interest and taxes and the…

Q: Patterson recently reported EBITA of $14.5 million. It had $2.0 million of interest expense, and its…

A: Depreciation: It is the non-cash expenses that is charged against the tangible assets of the…

Q: Calculate economic profit based on the following information: WACC = 7.60%; Total Assets = $1,366;…

A: Stet 1

Q: WayneCorp, Inc., has sales of $581, 000, costs of $244, 000, depreciation expense of $36,000,…

A: Income statement is one of financial statements prepared at the end of the period. It shows how much…

Q: Franklin Corporation just paid taxes of $152,000 on taxable income of... Franklin Corporation just…

A: Average Tax Rate -The tax rate applied to the maximum income dollar is known as the marginal tax…

Q: Holly's Art Galleries recently reported $7.9 million of net income. Its EBIT was $13 million, and…

A: The objective of the question is to calculate the interest expense of Holly's Art Galleries. The…

Q: Little Books, Inc. recently reported 3.100 million USD of net income. The firm's EBIT was 6.400…

A: Net income = $3.100 million EBIT = $6.40 million Tax rate = 40%

Q: Your pro forma income statement shows sales of $1,006,000, cost of goods sold as $488,000,…

A: For external reporting requirements, such as regulatory compliance, tax filings, and annual reports,…

Q: In 2013, the Lenders collected $2,800,000 in taxable income. What was their total tax expense for…

A: Income tax:   Income tax is the tax that an individual is responsible for on their earned income. It…

Q: which rs. Both Josh and Amy have learned in their fin re important than reported profits by a compa…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: (Corporate income tax) G. REdwin Inc. had sales of $6.01 million during the past year. The cost of…

A: Given that : sales : $6.01 million Cost of good sold :$2.7 million Operating expenses : $2.47…

Q: Tommy’s Woodworking had sales of $4 million this past year.  Its COGS was $2.75 million and its…

A:

Q: XYZ co paid $520 in dividends and $711 in interest expense. The addition to retained earnings is…

A:

Q: Holly's Art Galleries recently reported $15.8 million of net income. Its EBIT was $26 million, and…

A: The objective of the question is to calculate the interest expense of Holly's Art Galleries. The…

Q: Need Help

A: Reference:Team, C. (2024b, May 12). Income statement. Corporate Finance Institute.…

Q: A company paid $11,310 in interest and $16,500 in dividends last year. The times interest earned…

A: Data Given:: Interest Expenses= $11,310 Times Interest earned ratio= 2.9 Depreciation expense=…

Q: A company recently reported $9.8 million of net income. Its EBIT was $15 million, and its federal…

A: Net Income = ni = $9.8 millionEarning Before Interest and Taxes = EBIT = $15 millionTax rate = t =…

Q: Byron Books Inc. recently reported $18 million of net income. Its EBIT was $37.2 million, and its…

A: Interest expense is the cost incurred for borrowing the fund. Interest is calculated on the…

Q: 11. In 2019, LSP company reported a net income of $57,000. They had reported earnings before…

A: Net income = $57000 EBIT = $160,000 Tax rate = 40%

Q: What was the firm's net income if the firm paid income taxes of $2,000 and the average tax rate was…

A: Tax rate – 25% Tax paid – 2000 Net income - ?   Tax  = income before tax* tax rate