For the past year, Momsen, Ltd., had sales of $44,042, interest expense of $2,918, cost of goods sold of $14,559, selling and administrative expense of $10,626, and depreciation of $4,675. If the tax rate was 35 percent, what was the company's net income?
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- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.For the past year, shame ltd., had sales of $45,002, interest expense of $4,306, cost of goods sold of $18,349, selling and administrative expense of $12,146, and depreciation of $6,995. If the tax rate was 33 percent, what was the company's net income?For the past year, Momsen Limited had sales of $47362, interest expense of $4166, cost of goods sold of $17,359, selling and administrative expense of $12,146, and depreciation of $6,995. If the tax rate was 21 percent, what was the company's net income? Multiple Choice O $5,132 $6,496 $11,550 $4,547 $2.444
- For the past year, a firm had sales of $41,987, interest expense of $3,232, cost of goods sold of $16,500, selling and administrative expense of $11,000, and depreciation of $6,200. If the tax rate was 21 percent, what was the company's net income? O $3,794 O $3,993 $3,281 O $5,590Medium Manufacturers, Inc. (MMI) has the following items on its Income Statement for last year: Sales of $459,500, Cost of Goods Sold of $325,789, Cash Operating Expenses of $45,795, Depreciation Expense of $33,595, Interest Expense of $8,796, and a Marginal Tax Rate of 25%. Medium Manufacturers, Inc. (MMI) has the following items on its Balance Sheet for last year: Cash of $16,495, Accounts Receivable of $49,786, Inventory of $54,997, Short Term Investments of $85,039, Gross Fixed Assets of $429,750, Accumulated Depreciation of $95,847, Accounts Payable of $39,875, Accrued Expenses of $5,496, Short Term Notes Payable of $17,950, Long Term Debt of $105,345, Common Stock of $75,678 with a $1 Par Value, Additional Paid in Capital of $95,876, and Retained Earnings of $200,000. MMI paid Cash Dividends last year of $10,243. 9) What was MMI’s Beginning of Year Retained Earnings Balance last year to the nearest cent?If the following financial information related to XYZ Company. Total Revenues last year $870, depreciation expenses $40, costs of goods sold $350, and interest expenses $50. At the end of the year, current assets were $100 and current liabilities were $105. The company has an average tax rate of 30%. Calculate the net income for XYZ Company by setting up an income statement.
- During the year, the Senbet Discount Tire Company had gross sales of $538,900. The company's cost of goods sold and selling expenses were $178,400 and $104,200, respectively. The company also had debt of $484,000, which carried an interest rate of 6 percent. Depreciation was $62,100. The tax rate was 24 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.)During the year, the Senbet Discount Tire Company had gross sales of $1.09 million. The company's cost of goods sold and selling expenses were $578,000 and $231,000, respectively. The company also had notes payable of $700,000. These notes carried an interest rate of 6 percent. Depreciation was $108,000. The tax rate was 23 percent. a. What was the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) b. What was the company's operating cash flow? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) a. Net income b. Operating cash flowHolly Farms has sales of S509,600, costs of $448,150, depreciation expense of $36,100, and interest paid of SI2,400. The tax rate is 28 percent. How much net income did the firm carn for the period?
- Accordingly, 15% of rent, depreciation, and utility expenses pertain to the sales office while the rest pertains to the corporate office. Questions: How much is the net sales for the year? How much is the cost of sales for the year? How much is the gross profit for the year? How much is the net income for the year? Prepare a statement of comprehensive income. Prepare a financial statement.XYZ Co has disclosed the following financial information for the period ending 12/31/19: sales of $1,522,982, cost of goods sold of $825,220, depreciation expenses of $101,083, and interest expenses of $80,341. Assume that the firm has an average tax rate of 35 percent. What is the company's net income?( Please round your answer for the Tax and Net income line to the whole number, for example 5. ) Sales COGS ( ? ) Deprecation ( ? ) Interest exp ( ? ) Pre-Tax Income ? Tax ( ? ) Net Income ?For the past year, Kayla, Inc., has sales of $46,382, interest expense of $3,854, cost of goods sold of $16,659, selling and administrative expense of $11,766, and depreciation of $6,415 . If the tax rate is 35 percent, what is the operating cash flow?