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a. Calculate operating income for the period b. Calculate net income for the period Facts: Selling,...
9.2 Selling, general, and administrative expenses were $99,000; net sales were $460,000; interest expense was $10,500; research and development expenses were $47,200; net cash provided by operating activities was $118, 800; income tax expense was $11,400; cost of goods sold was $247,500. A)calculate operating income for the period. B) calculate net income for the period.
Selling, general, and administrative expenses were $59,000; net sales were $268,100; interest expense was $6,300; research and development expenses were $27,800; net cash provided by operating activities was $69,900; income tax expense was $6,700; cost of goods sold was $145,500. Required: a. Calculate operating income for the period. b. Calculate net income for the period.
18 Selling, general, and administrative expenses were $80,000; net sales were $390,000; interest expense was $16,000; research and development expenses were $34,000; Net cash provided by operating activities was $42,000; income tax expense was $10,000; cost of goods sold was $220,000. net income for the period was: A. $30,000 B. $40,000 C. $56,000 D. $72,000
How to calculate the net operating income for both and shipping expense? Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $56 per unit. The company also gathered the following cost estimates for the next quarter: 20 points Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $26 per unit sold $183,000 per quarter 6% of sales $57,000 per...
Income Statement Revenue Total revenue $470,100 Cost of Revenue $149,700 Gross Profit $320,100 Operating Exp Selling General & Admin $57,800 other $17,400 Total Operating Exp $269,900 Operating Income or Loss $200,200 Income from Continuing Operations Expenses Net/Total other Income $114,400 Earnings before Int & Tax $200,200 Interest Exp -$32,200 Income before Tax $314,600 Income Tax Exp $100 Minority Interest $23,300 Net Income from Continuing Ops $314,500 Net Income $295,300 Net Income applicable to common shares $230,700 Balance Sheet Current Assets...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 305 Cost of goods sold (185) Gross margin Salaries expense Insurance expense Depreciation expense Loss on sale of land Income before tax Income tax expense Net Income $41 Reconciliation of Net Income To Net Cash Flows from Operating Motivities Net income Adjustments for...
Consider the following information: Cost of goods sold: $200,000 Income tax expense: $12,000 Research and development expenses: $42,000 Interest expense: $9,000 Net Sales: $702,000 Selling, general, and administrative expenses: $121,000 Calculate operating income for the period. Calculate net income for the period.
What does the single step income statement look like and what is the operating income? The Filzinger Corporation's December 31, 2021 year-end trial balance contained the following income statement items: Debits Credits 6,675,880 69,000 51,000 Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense General and administrative expense Interest expense Research and development expense Income tax expense 4,250,000 330,000 943,000 29,000 580,000 144,000 Required: Calculate the company's operating income for the year...
Using the information below. calculate net income for the period Sales revenues for the period Operating expenses for the period Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Cost of goods manufactured for the period $1,308,000 243,000 40,000 45,000 544,000 $777.000 $436,000 10 0 0 0 C $526,000. $782,000
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $151.40 Cost of goods sold (90.70) Gross margin 60.70 Salaries expense $21.40 Insurance expense 13.40 Depreciation expense 5.70 Interest expense 6.70 (47.20) Gains and losses: Gain on sale of equipment 13.40 Loss on sale of land (4.40) Income before tax 22.50 Income...