Question

Left Time Exceeded Mahbub Abdulkadir: Attempt 1 Previous Page Next Page Page 2 of 14 Question 2 (6 points) Wilma's Widgets had net sales of $3 in 2017. The cost of goods sold was $1,operating expenses (excluding depreciation) were $3,362,770, interest expenses were $ 992,168 depreciation expense was $1,315,870, and dividends paid were $422,999.The firm's tax rate is 35 percent. What did Wilma's Widgets report as earnings before interest and taxes (i.e. operating profit) in 2017? Record your answer rounded to the nearest dollar. Do not include a dollar sign or commas in your answer. If your answer is a negative number, place a minus sign before your answer with no space between the minus sign and the number. For example, record $1,234,567.89 as 1234568 or negative $543,210 as -543210.</font color> Your Answer: Answer Previous Page Next Page Page 2 of 14 Submit Qulz 12 of 14 questions saved 9

Answer 1

Calculation of Earnings before interest and taxes that Wilma's Widgets report in 2017
Net sales	3
Cost of goods sold	-1
Gross Profit	2
Operating expenses	-3362770
Depreciation expenses	-1315870
Earnings before interest and taxes	-4678638
Wilma Widgets will report -4678638 as Earnings before interest and taxes in 2017.