Homework Answers
net income for the year
=increase in retained earnings+dividends
=62138+18000
=80138
net income before taxes
=sales-costs-interest costs-depreciation
=843800-609900-38200-76400
=119300
taxes=net income before taxes-net income for the year
=119300-80138
=39162
average tax rate is=taxes/net income before taxes
=39162/119300
=32.83%
the above is answer..
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Winston Industries had sales of $843,800 and costs of $609,900. The firm paid $38,200 in interest...
こ104. 3l1 3bo 3. (10 Points) Winston Industries had sales of $843,800 and costs of s609,900....
こ104. 3l1 3bo 3. (10 Points) Winston Industries had sales of $843,800 and costs of s609,900. The firm paid $38,200 in interest and s18,000 in dividends. It also increased retained earnings by $62,138 for the year. The depreciatión was s76,400. What is the average tax rate? 「ok 2 6213
Mariota Industries has sales of $339,620 and costs of $164,710. The company paid $27,910 in interest...
Mariota Industries has sales of $339,620 and costs of $164,710. The company paid $27,910 in interest and $13,450 in dividends. It also increased retained earnings by $66,350 during the year. If the company's depreciation was $17,405, what was its average tax rate?
Mariota Industries has sales of $304,940 and costs of $153,070. The company paid $24,070 in interest...
Mariota Industries has sales of $304,940 and costs of $153,070. The company paid $24,070 in interest and $12,550 in dividends. It also increased retained earnings by $63,542 during the year. If the company's depreciation was $15,335, what was its average tax rate? 30.92% 32.34% 47.80% 24.13% 11.93%
Mariota Industries has sales of $368,520 and costs of $174,410. The company paid $31,110 in interest...
Mariota Industries has sales of $368,520 and costs of $174,410. The company paid $31,110 in interest and $14,200 in dividends. It also increased retained earnings by $68,690 during the year. If the company's depreciation was $19,130, what was its average tax rate? Multiple Choice 73.57% 42.39% 16.55% 34.18% 23.59%
Question 12 6 pts Beach Front Industries has sales of $546,000, costs of $295,000, depreciation expense...
Question 12 6 pts Beach Front Industries has sales of $546,000, costs of $295,000, depreciation expense of $37,000, interest expense of $15,000, and a tax rate of 21 percent. The firm paid $59,000 in cash dividends. What is the addition to retained earnings? O $81.700 O $103.460 O $95.200 O $121.680 $98.210
A restaurant chain had $684,000 worth of sales revenue last year. It also had costs of...
A restaurant chain had $684,000 worth of sales revenue last year. It also had costs of $315,000, depreciation expense on its equipment of $42,000, interest expense of $35,000, and a corporate income tax rate of 35 percent. The restaurant chain paid out $78,000 in cash dividends. Calculate the restaurant chain's addition to retained earnings for the year? Multiple Choice $111,800 $153,800 $100,620 $188,800 $146,800
Smashed Pumpkins Co. paid $136 in dividends and $568 in interest over the past year. The...
Smashed Pumpkins Co. paid $136 in dividends and $568 in interest over the past year. The company increased retained earnings by $474 and had accounts payable of $594. Sales for the year were $16,265 and depreciation was $720. The tax rate was 38 percent. What was the company's EBIT?
Shelton, Inc., has sales of $398,000, costs of $186,000, depreciation expense of $51,000, interest expense of...
Shelton, Inc., has sales of $398,000, costs of $186,000, depreciation expense of $51,000, interest expense of $32,000, and a tax rate of 40 percent. (Do not round intermediate calculations.) What is the net income for the firm? Net income $ Suppose the company paid out $41,000 in cash dividends. What is the addition to retained earnings? Addition to retained earnings $
Papa Roach Exterminators, Inc., has sales of $719,000, costs of $225,000, depreciation expense of $38,000, interest...
Papa Roach Exterminators, Inc., has sales of $719,000, costs of $225,000, depreciation expense of $38,000, interest expense of $33,000, and a tax rate of 40 percent. If the firm paid out $75,000 in cash dividends. What is the addition to retained earnings?
Papa Roach Exterminators, Inc., has sales of $699,000, costs of $285,000, depreciation expense of $36,000, interest...
Papa Roach Exterminators, Inc., has sales of $699,000, costs of $285,000, depreciation expense of $36,000, interest expense of $21,000, and a tax rate of 35 percent. If the firm paid out $76,000 in cash dividends. What is the addition to retained earnings? $___________________
こ104. 3l1 3bo 3. (10 Points) Winston Industries had sales of $843,800 and costs of s609,900. The firm paid $38,200 in interest and s18,000 in dividends. It also increased retained earnings by $62,138 for the year. The depreciatión was s76,400. What is the average tax rate? 「ok 2 6213
Question 12 6 pts Beach Front Industries has sales of $546,000, costs of $295,000, depreciation expense of $37,000, interest expense of $15,000, and a tax rate of 21 percent. The firm paid $59,000 in cash dividends. What is the addition to retained earnings? O $81.700 O $103.460 O $95.200 O $121.680 $98.210
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