Homework Answers
Solution :- Income after tax = $400000
Tax Expense = $140000
Interest Expense = $60000
Now Earning Before Interest and Tax = $400000 + $140000 + $60000 = $600000
Now Times Interest Earned Ratio = EBIT / Interest = $600000 / $60000 = 10 times
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A company's net income after tax was $400,000 for its most recent year. The company's income...
Finance
A company's net income after tax was $400,000 for its most recent year. The company's income statement included Income Tax Expense of $140,000 and Interest Expense of $60,000. At the beginning of the year the company's stockholders' equity was $1,900,000 and at the end of the year it was $2,100,000. What is the after-tax return on stockholder's equity for the year?
Markus Company's common stock sold for $2.75 per share at the end of this year. The...
Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Beginning Balance Balance Cash $ 35,000 $ 30,000 Accounts receivable $ 60,000 $ 50,000 Inventory $ 55,000 $ 60,000 Current assets $ 150,000 $ 140,000 Total assets $ 450,000 $ 460,000 Current liabilities $ 60,000 $ 40,000 Total liabilities...
The Johnson's Company had net income(after tax) = 500,000 USD, Johnson's Company's income statement included Income...
The Johnson's Company had net income(after tax) = 500,000 USD, Johnson's Company's income statement included Income Tax Expense = 150,000 USD; Interest Expense = 50,000 USD. Also we know that at the beginning of the year the Johnson's Company's stockholders equity = 2,200,000 USD and at the end of this year stockholders equity = 2,800,000 USD. What is the after-tax return on stockholders equity for the Johnson's Company for this year?
Markus Company's common stock sold for $2.75 per share at the end of this year. The...
Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Beginning Balance Balance Cash $ 35,000 $ 30,000 Accounts receivable $ 60,000 $ 50,000 Inventory $ 55,000 $ 60.000 Current assets $ 150,000 $ 140,000 Total assets $ 450,000 $ 460,000 Current liabilities $ 60,000 $ 40,000 Total liabilities...
Crosby Company has provided the following comparative information: 20Y8 20Y7 20Y6 20Y5 20Y4 Net income $5,571,720...
Crosby Company has provided the following comparative
information:
20Y8
20Y7
20Y6
20Y5
20Y4
Net income
$5,571,720
$3,714,480
$2,772,000
$1,848,000
$1,400,000
Interest expense
1,052,060
891,576
768,600
610,000
500,000
Income tax expense
1,225,572
845,222
640,320
441,600
320,000
Total assets (ending balance)
29,378,491
22,598,839
17,120,333
12,588,480
10,152,000
Total stockholders’ equity (ending balance)
18,706,200
13,134,480
9,420,000
6,648,000
4,800,000
Average total assets
25,988,665
19,859,586
14,854,406
11,370,240
8,676,000
Average total stockholders' equity
15,920,340
11,277,240
8,034,000
5,724,000
4,100,000
You have been asked to evaluate the historical performance...
Use the following financial information for questions 2-4 below: From the income statement: Depreciation expense Interest...
Use the following financial information for questions 2-4 below: From the income statement: Depreciation expense Interest expense Income tax Net income $112,000 25,000 45,000 53,000 From the balance sheet: Current liabilities Long-term debt Deferred income taxes Total Liabilities Preferred stock Common stock Premium on common stock Retained earnings Total Stockholders' Equity Total Liabilities &Stockholders' Equity $80,000 400,000 15,000 495,000 75,000 157,000 185,000 245,000 2. What is the Times Interest Earned ratio? 3. What is the Debt/Assets (Debt) ratio? 4. What...
Target Corporation Income Statement Wal-Mart Stores,Inc. Date of year Net sales 61,471 374,526 Cost of goods...
Target Corporation Income Statement Wal-Mart Stores,Inc. Date of year Net sales 61,471 374,526 Cost of goods sold 41,895 286,515 Selling and administration expenses 16,200 70,847 Interest expense 647 1,798 Other income (expense) 1,896 4,273 Income tax expense 1,776 6,908 Net Income 2,849 12,731 Balance sheet data (end of year) Current assets 18,906 47,585 noncurrent assets 25,654 115,929 total assets 44,560 163,514 current liabilities 11,782 58,454 long-term debt 17,471 40,452 total stockholder's equity 15,307 64,608 total liabilites and stockholders equity 44,560...
Delectable Parsnip, Inc.'s, net income for the most recent year was $10,512. The tax rate was...
Delectable Parsnip, Inc.'s, net income for the most recent year was $10,512. The tax rate was 34 percent. The firm paid $3,587 in total interest expense and deducted $5,673 in depreciation expense What was the company's taxable income for the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Taxable income What was the company's EBIT for the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Income Statement Data for Year $66,800 $413,000 46,000 308,000 14,400 77,000 680 1,800 (90) (380) 1,400 6,900 $4,230 $18,920 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $18,000 $47,000 27,500 121,000 $45,500 $168,000 $11,000 $54,000 16,800 45,000 17,700 69,000 $45,500 $168,000 Total assets Total...
A corporation reported net income of $250,000 and paid dividends of $10,000 on its common stock...
A corporation reported net income of $250,000 and paid dividends of $10,000 on its common stock and $50,000 on its preferred stock. Common stockholders' equity was $1,200,000 at the start of the year and $1,600,000 at the end of the year. Total assets was $1,900,000 at the start of the year and $2,100,000 at the end of the year. What is the company's return on common stockholder's equity? 0 12.50% O 14.29% O 10.00% O 13.57% O 17.14%
Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Beginning Balance Balance Cash $ 35,000 $ 30,000 Accounts receivable $ 60,000 $ 50,000 Inventory $ 55,000 $ 60,000 Current assets $ 150,000 $ 140,000 Total assets $ 450,000 $ 460,000 Current liabilities $ 60,000 $ 40,000 Total liabilities...
Markus Company's common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Beginning Balance Balance Cash $ 35,000 $ 30,000 Accounts receivable $ 60,000 $ 50,000 Inventory $ 55,000 $ 60.000 Current assets $ 150,000 $ 140,000 Total assets $ 450,000 $ 460,000 Current liabilities $ 60,000 $ 40,000 Total liabilities...
Crosby Company has provided the following comparative
information:
20Y8
20Y7
20Y6
20Y5
20Y4
Net income
$5,571,720
$3,714,480
$2,772,000
$1,848,000
$1,400,000
Interest expense
1,052,060
891,576
768,600
610,000
500,000
Income tax expense
1,225,572
845,222
640,320
441,600
320,000
Total assets (ending balance)
29,378,491
22,598,839
17,120,333
12,588,480
10,152,000
Total stockholders’ equity (ending balance)
18,706,200
13,134,480
9,420,000
6,648,000
4,800,000
Average total assets
25,988,665
19,859,586
14,854,406
11,370,240
8,676,000
Average total stockholders' equity
15,920,340
11,277,240
8,034,000
5,724,000
4,100,000
You have been asked to evaluate the historical performance...
Use the following financial information for questions 2-4 below: From the income statement: Depreciation expense Interest expense Income tax Net income $112,000 25,000 45,000 53,000 From the balance sheet: Current liabilities Long-term debt Deferred income taxes Total Liabilities Preferred stock Common stock Premium on common stock Retained earnings Total Stockholders' Equity Total Liabilities &Stockholders' Equity $80,000 400,000 15,000 495,000 75,000 157,000 185,000 245,000 2. What is the Times Interest Earned ratio? 3. What is the Debt/Assets (Debt) ratio? 4. What...
Delectable Parsnip, Inc.'s, net income for the most recent year was $10,512. The tax rate was 34 percent. The firm paid $3,587 in total interest expense and deducted $5,673 in depreciation expense What was the company's taxable income for the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Taxable income What was the company's EBIT for the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,...
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Income Statement Data for Year $66,800 $413,000 46,000 308,000 14,400 77,000 680 1,800 (90) (380) 1,400 6,900 $4,230 $18,920 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Data (End of Year) $18,000 $47,000 27,500 121,000 $45,500 $168,000 $11,000 $54,000 16,800 45,000 17,700 69,000 $45,500 $168,000 Total assets Total...
A corporation reported net income of $250,000 and paid dividends of $10,000 on its common stock and $50,000 on its preferred stock. Common stockholders' equity was $1,200,000 at the start of the year and $1,600,000 at the end of the year. Total assets was $1,900,000 at the start of the year and $2,100,000 at the end of the year. What is the company's return on common stockholder's equity? 0 12.50% O 14.29% O 10.00% O 13.57% O 17.14%
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