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Everett Corporation started the year with long-term debt of $85,000, which represents the principal balance of a loan payable to Sunrise Bank. During the year, the company made total payments of $20,400, which included $6,400 in interest. Additionally, the company took out a new loan of $14,000. Determine the value of ending long-term debt.

A company has variable costs of 75% of sales, current sales of $800,000, and fixed costs of $150,000. What is the amount of sales required to achieve a net income of $70,000?

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Omega Corporation prepared the following tentative budget for next month: • • Sales Revenue = $600,000 • Selling Price per Unit = $10 • Variable Expenses = $360,000 • Fixed Expenses = $200,000 The sales manager proposes that the unit selling price could be increased by 15%, with an expected volume decrease of only 12%. Compute the budgeted net income if these changes are incorporated.

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