Complete the income statement table below Sales $15,000 Gross income Cost of goods sold Operating expenses Asset depreciation Taxable income Tax (20%) $8,000 $2,000 $1,000 Net income Net cash flow
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- Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.Consider the following income statement: Sales Costs $ 602,184 391,776 Depreciation 89,100 Taxes Calculate the EBIT. EBIT 21% Calculate the net income. Net incomeConsider the following income statement: $ 529,192 344,288 78,300 23% Sales Costs Depreciation Taxes Calculate the EBIT. EBIT
- Below is financial information ($ values are in millions) in a model. Net income during the year for this company would be: Revenues SG&A Expenses Interest Expense Select one: OA. $4.5 million OB. $3.6 million O C. $16.6 million OD. $0.9 million $67.30 $4.70 $8.10 Cost of Goods Sold Depreciation Tax Rate $43.20 $6.80 20%Use the table for the question below. Revenues -Cost of Goods Sold -Depreciation =EBIT -Taxes (30%) =Profit after tax +Depreciation -Change in NOWC -Capital Expenditures =Free Cash Flow Year 0 a. by 22.5% O b. by 19.5% c. by 25.5% d. by 27.5% -300,000 Year 1 400 000 -180 000 -100 000 120 000 -36 000 84 000 100 000 -20 000 164 000 Year 2 400 000 -180 000 -100 000 120 000 -36 000 84 000 100 000 -20 000 164 000 Year 3 400 000 -180 000 -100 000 120 000 -36 000 8 000 100 000 -20 000 164 000 Visby Rides, a limousine hire company, is considering buying some new luxury cars. After extensive research, they come up with the above estimates of free cash flow from this project. By how much could the opportunity cost of capital rise before the net present value (NPV) of this project is zero, given that it is currently 10%?Use the table for the question below. Revenues -Cost of Goods Sold -Depreciation =EBIT -Taxes (30%) =Profit after tax +Depreciation -Change in NOWC -Capital Expenditures =Free Cash Flow Year 0 a. by 28.1% b. by 15.5% c. by 10.8% d. by 24.5% -300,000 Year 1 400 000 -180 000 -100 000 120 000 -36 000 84 000 100 000 -20 000 164 000 Year 2 400 000 -180 000 -100 000 120 000 -36 000 84 000 100 000 -20 000 164 000 Year 3 400 000 -180 000 -100 000 120 000 -36 000 8 000 100 000 -20 000 164 000 Visby Rides, a limousine hire company, is considering buying some new luxury cars. After extensive research, they come up with the above estimates of free cash flow from this project. Visby learns that a competitor is thinking of offering similar services, thus reducing Visby's sales. By how much could sales fall before the net present value (NPV) was zero, given that the opportunity cost of capital is 10%, and that cost of goods sold is 45% of revenues?
- Comparative income statements and balance sheets for F&N are shown below ($ millions): Year 2 Year 1 Income Statement $19,889 6,204 Net sales. $20,092 6,044 Cost of goods Gross profit. Selling, general, and administrative expense Depreciation and amortization expense Interest expense (revenue) 14,048 7,893 803 (308) 13,685 9,221 773 292 3,399 1,222 Income before tax 5,660 1,691 Income tax expense. Net income $ 3,969 $ 2,177 Outstanding shares 3,491 3,481Calculate the Sales from the information given: Cost of goods sold is $38,000 Net income is $14,625 Depreciation is $5,000 Interest paid is $3,500 Tax rate is 35% a. $65,500 b. $51,619 c. $69,000 d. $64,000Direction: Using the following account titles below: Sales – 20,000 Interest Expense - 660 Cost of Goods Sold – 10,000 Rent Expense 2,000 Depreciation Expense – 1,000 Utilities Expense – 1,000 Selling Expenses – 2,000 Compute for the following: Gross Income Operating Income Net income
- Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. Cash COMPARATIVE BALANCE SHEETS Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 12/31/25 $608000 (320000) $408000 360000 384000 288000 $1440000 $176000 352000 360000 216000 336000 $1440000 INCOME STATEMENT For the Year Ended December 31, 2025 12/31/24 $960000 (304000) $192000 216000 480000 656000 $1544000 $96000 392000 600000 216000 240000 $1544000Given the following income statement data, calculate net income: sales=$2500, cost of goods sold=$1800,miscellaneous expenses=$200, depreciation=$150, interest expense=$50, tax rate=35%Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…