What was Dallas's reported pretax income from continuing operations?
Q: OI Corporation, a manufacturer, has a gross sales of P90,000,000.00 for CY 2021, its fifth year of…
A: Taxable income is the net income earned by an individual on which the tax is payable. It is…
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: 2020 2019 Sales P1,944,000 P1,900,800 Cost of Sales P1,152,000 P1,113,600 Gross…
Q: 13. During the year 2018, the Belleview Company had generated total sales revenue of P1,000,000, of…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: The following condensed profit or loss statement of Sasume Corporation is presented for two years…
A: SOLUTION- INCOME STATEMENT IS A FINANCIAL STATEMENT THAT SHOWS YOU THE COMPANY'S INCOME AND…
Q: Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue…
A: ROSS COMPANYCommon-Size Income Statements(Percent of Sales Revenue) 2013 2012 Sales revenue…
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: 2020 sales at 2019 price = 2020 sales / (1 - lower in sales price %) = P1,944,000 / (1 - 0.10) =…
Q: 1. Prepare a comparative statements for Sunshine Co. showing an income statement for 3 year period.…
A: solution ; The comparative income statement is the income statement that is prepared for more than…
Q: Use this information for Mason Corporation to answer the question that follow. Mason Corporation had…
A: The money that left over in the business after paying off all expenses and costs is called as…
Q: Solvency and Profitability Trend Analysis Addai Company has provided the following comparative…
A: Return on Total Assets: This is the ratio between the earnings before interest and taxes (EBIT) and…
Q: Tech Manufacturing Company realized P15,000,000 in sales, with a cost of goods sold of P6,000,000,…
A: The ratio analysis helps to analyze the financial statements of the business. The Return on assets…
Q: Portions of the financial statements for Peach Computer are provided below.Required: Prepare the…
A: Statement of cash flows: Cash flow statement is also known as statement of cash flows. It is a…
Q: Given the historical income statement of Mega Trade Inc., how much would be added to the company's…
A: Retained earnings are the profits left after paying dividends. Hence, the amount for any year that…
Q: INFORMATION Calder Enterprises Statement of Comprehensive income tor the year ended 31 December 2020…
A: Income Statement: It is a financial statement that includes the business incomes and expenses. The…
Q: n the preparation of a revised comparative income statement, Ranger should report under the caption…
A: Calculate the discontinued operations for 2016 and 2015:
Q: tems 20 through 24 are based on the following: The management of Bataan Corporation asked you to…
A: Let the sale price per unit for 2020 be 'P 100'.
Q: Prepare a comparative statements for Sunshine Co. showing an income statement for 3 year period.…
A: Formula: Comparative percentage = ( Cost of sales / sales ) x 100
Q: Compute for its Income Tax Due for CY 2021.
A: The new taxation rates are presented in the Create act for the corporate income.
Q: 3. JOI Corporation, a manufacturer, has a gross sales of P90,000,000.00 for CY 2021, its fifth year…
A: JOI Corporation, a manufacturer for CY 2021, Gross sales = P90000000 in its 5th year of operations.…
Q: From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for…
A: Vertical analysis: It implies to a method of analyzing or evaluating the financial statements of a…
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: Cost price is represented by Cost of Sales. Sales Volume in 2019 = P1,900,800 Sales Volume in 2020…
Q: Assume the investment project enables the company to increase sales by $90,000 and COGS by $43,800.…
A: Formula: Working capital = Current assets - current liabilities Deduction of current liabilities…
Q: Consolidated income Štatement 12 Months Ended in USD millions, except per share data Dec. 31, 2020…
A: Generally accepted accounting principles excludes dirty surplus in reformulated income statement.…
Q: Your company has net sales revenue of $43 million during the year. At the beginning of the year,…
A: Fixed asset turnover ratio = Net sales revenue/Average fixed assets, where, Average fixed assets =…
Q: ventory turnover ne the effect of the e on current ratio. E6-11 Deere & Company is a global…
A: Ratio analysis is a mathematical comparison of financial statement accounts. it establishes…
Q: KM Manufacturing Company The income statement for the year ended December 31, 2020, for KM…
A: A cash flow statement (CFS) is used to distribute the flow of cash in three categories, operating,…
Q: For the Year Ended December 31, 2X20 Sales revenue P6,583,000 Cost of goods sold P2,810,000…
A: Cash flow analysis is important for the business since it allows the business to assess the amount…
Q: net income for the second quarter
A: Annual depreciation (for 12 months) P1,200,000 Depreciation expense for 3 months in the second…
Q: BCD Company had sales Revenue of $500,000 for the year 2019. Its cost of goods sold was $240,000,…
A: Income statement: All revenues and expenses of the company generated or incurred for the period are…
Q: DRS Sdn. Bhd. earned operating income last year as shown in the following income statement: Sales =…
A: Return on Investment (ROI) = Operating income ÷ Average operating assets * 100 Residual income =…
Q: Flamengo Co is a sporting goods manufacturing company. Last year, report the following information:…
A: Profit margin refers to how much profit earn by a company from its total sales made during the year.
Q: The following is Firm Y's current statement of comprehensive income. If the firm is currently…
A: The question is multiple choice question Required Choose the Correct Option.
Q: 6-4. PRO FORMA INCOME STATEMENT Austin Grocers recently reported the following 2015 income statement…
A: Calculation of projected net income in 2016 and expected growth rate in dividends: Excel workings:
Q: Motor Corporation’s income statements for the years ended December 31, 2012, and 2011 included the…
A: Income from discontinued operation: It is reported after reporting the income from continuing…
Q: The following is the statement of comprehensive income of Green Limited: Green Limited Statement…
A: Cash flow statement: It is the statement that shows the net cash position of the company
Q: TREN Corporation Comparative Income Statements For the years ended December 31, 2015 & 2014 (in…
A: Horizontal analysis compares last year numbers with current year numbers and analysis of increase…
Q: Addai Company has provided the following comparative information: 20Y8 20Y7 20Y6…
A: Return on total assets = (Net Income + Interest expense)/ Average Total assets where, Average Total…
Q: KINGPIN COMPANY INCOME STATEMENT YEAR ENDED 12/31/20 Sales $300,000 Cost of Goods Sold -150,000…
A: Introduction: Statement of cash flows (SCF) is one of the financial statements prepared for…
Q: Vertical Analysis of Income StatementFor 20Y2, Fielder Industries Inc. initiated a sales promotion…
A: 1. Prepare a comparative vertical analysis of income statement for two-year period ended December…
Q: Consider the following information for Belle Corp. Selling and Administrative Expenses 50,00o.00;…
A: Operating Profit-: Operating Profit is the revenue earned from the core undertakings of a company,…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million) YEAR END YEAR END YEAR END YEAR END 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1 Addition to Retained EarningsFill in thr blanks on the table below and show the formulas used for each value Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2019 2018 2019 2018 Sales $ 178,909 $ 187,510 100.0% 100.0% Cost of Sales 111,631 59.5% Gross Operating Profit $ 75,879 40.5% Selling, General & Admin. Expense 12,900 6.9% Other Expenses 33,377 17.8% EBITDA $ 29,602 15.8% Depreciation & Amortization 7,944 4.2% EBIT $ 21,658 11.6% Other Income, Net 3,323 1.8% Earnings Before Interest and Taxes $ 24,981 13.3% Interest Expense 293 0.2% Earnings Before Taxes $ 24,688 13.2% Income Taxes 5,184 0.21 tax rate Net Income Available to Common $ 19,504 10.4% Dividends per share $ 1.15 $ 0.91 EPS…Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)? Income Statement ( $ Million) Year End 2015 2016 2017 2019 Sales 1, 234.90 1,251.70 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income / Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1
- Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million) Year End 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Income Taxes -56.8 -64.2 -67.5 -72.6 Dividends -38.3 -38.7 -39.8 -40.1 CHOICES: A. 108.7B. 132.7C. No choice givenD. 132.8E. 121.8Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)? Income Statement ($ Million) Income Statement ( $ Million) Year End 2015 2016 2017 2019 Sales 1, 234,90 1,251.40 1,300.40 1,334.40 Cost of Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income / Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1Snow Company’s revenue for the year ended December 31, 2020 was as follows:Consolidated revenue per statement ofcomprehensive income $1,200,000Inter-segment sales 240,000Combined revenue of all segments $1,440,000Snow has a reportable operating segment if that segment’s revenue exceeds ____________________.A. $ 6,000B. $ 24,000C. $120,000D. $144,000
- Problem: Remesh Corporation prepared the following income statement and statement of retained earnings for the year ended December 31, 2021. Remesh Corporation December 31, 2021 Expense and Profit Statement Dollars in thousands Sales (net) $206,000 Less: Selling Expenses (20,600) Net Sales $185,400 Add: Interest Revenue 2,400 Add: Gain on sale of equipment 3,600 Gross Sales Revenue $191,400 Less: Cost of operations: Cost of Goods Sold $126,100 Correction of overstatement in last years income because of error $5,500 (net of tax credit) $3850 Dividend cost ($0.50 per share for 8k common shares) $4000 Unusual loss due to a hurricane, $6,400 (net of tax credit) $1,920 ($135,870) Taxable Revenues $55,530 Less: Income tax on income from continuing operations $16,659 Net income $38871 Miscellaneous Deductions Loss from operations of…Use the information below to answer the questions below. Luther Corporation Consolidated Income Statement Year ended December 31 (in $ millions) 2015 2014 Total sales 610.1 578.3 Cost of sales (500.2) (481.9) Gross profit 109.9 96.4 Selling, general, and administrative expenses (40.5) (39.0) Research and development (24.6) (22.8) Depreciation and amortization (3.6) (3.3) Operating income 41.2 31.3 Other income --- --- Earnings before interest and taxes (EBIT) 41.2 31.3 Interest income (expense) (25.1) (15.8) Pretax income 16.1 15.5 Taxes (5.5) (5.3) Net income 10.6 10.2 Price per share $16 $15 Shares outstanding (millions) 10.2 8.0 Stock options outstanding (millions) 0.3 0.2 Shareholders' Equity 126.6 63.6 Total Liabilities…Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2016 (in million). What is the right amount? Income Statement ($ Million) YEAR END YEAR END YEAR END YEAR END 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1
- 1. Prepare a comparative statements for Sunshine Co. showing an income statement for 3 year period. 2020. 2021Sale 475,000. 505,000Less: Cost of sales. 210,000. 250,000Gross Profit on Sales. 265,000 255,000Less: Operating Expenses. 180,000. 155,000Net Income 85,000. 100,000Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compute asset turnover (AT) to the nearest hundredth of a percent. Net income Gross profit on sales Average total assets Sales Tax rate on operating profit $69,960 $700,400 $360,600 $1,356,504 35% Question 24 options: A) 3.76 B) 5.17 C) 0.27 D) 17.30The Parry Company provided the following information regarding its operations: 2017 Total assets $5,200, өө 2018 Total assets $5,700,000 2017 Net operating income 2018 Net operating income 87,700 $4 92,700 Ask 2017 Net sales $2,625,000 2018 Net sales $3,200, өөө What is Parry's ROI for the year ending 2018? (Round your answer to 2 decimal places.) Multiple Cholce 3.01% 1.61% Mc Graw