For Carla Vista Co., the following information is available:
Cost of goods sold 394000
dividend revenue 14500
income tax expense 36800
operating expenses 137500
sales revenue 583000
In Carla Vista's multiple step income statement, gross profit
should be reported at 188000
should be reported at 203500
should be reported at 29200
should not be reported
Answer: Gross profit should be reported at 203500
Explanation
Gross profit = Sales revenue + Dividend revenue - Cost of goods sold
= 583,000 + 14,500 - 394,000
= $ 203,500
For Carla Vista Co., the following information is available: Cost of goods sold 394000 dividend revenue...
Current Attempt in Progress For Sunland Company, the following information is available: Cost of goods sold $390000 Dividend revenue 14300 Income tax expense 36500 Operating expenses 139000 Sales revenue 588000 In Sunland’s single-step income statement, gross profit should be reported at $36800. should be reported at $198000. should not be reported. should be reported at $212300.
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Carla Vista Corporation reported net sales of $160,000, cost of goods sold of $92,800, operating expenses of $37.300. other expenses of $11,500, net income of $8,000. Calculate the following values. (Round answers to decimal places, eg. 25%.) 1 Profit margin 96 2 Gross profit rate 96
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QUESTION 24 For Blue Baker Company, the following information is available: Cost of goods sold $390,000 Dividend revenue 15,000 Income tax expense 36,000 Operating expenses 138,000 Sales revenue 600,000 In Blue Baker's multiple-step income statement, gross profit A should not be reported B. should be reported at $51,000. C. should be reported at $210,000. D. should be reported at $225,000. QUESTION 25 Bieber Company paid $3,408 on June 1, 2019 for a TWO-YEAR insurance policy and recorded the entire amount...
The following information is provided for Carla Vista Co. and Flint Corporation. What is Carla Vista's return on assets for 2017? 130.0% 13.6% 13.0% 12.5% (in $ millions) Carla Vista Co. Flint Corporation Net income 2017 $145 $360 Net sales 2017 1230 4700 Total assets 12/31/15 1075 2240 Total assets 12/31/16 1070 3070 Total assets 12/31/17 1160 4000
Tuduling research and development expenditures. 3. For Mortenson Company, the following information is available: Cost of goods sold $390,000 Dividend revenue 15,000 Income tax expense 36,000 Operating expenses 138,000 Sales revenue 600,000 In Mortenson's multiple-step income statement, gross profit should be reported as a. should not be reported. b. should be reported at $51,000. c. should be reported at $210,000 d. should be reported at $225,000 4. At Ruth Company, events and transactions during 2017 included the following. The tax...
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Carla Vista Co. reports the following information: $391000 Net income Depreciation expense Increase in accounts receivable 61000 25000 Carla Vista should report cash provided by operating activitie $355000. $305000. 0 $427000. O $477000.