Correct answer is "expenses must have been $18 million"
Net income = Revenue - Expenses
Revenue = $24 million
Net income = $6 million
$6 million = $24 million - Expenses
Expenses = $4 million - $6 million = $18 million
If Blair Industries had $24 million in revenue and net income of $6 million, then its:...
If Blalr Industries had $26 million In revenue and net Income of $13 million, then lts: Multiple Cholce expenses must have been $39 million. expenses must have been $13 million. assets must have been $26 million assets must have been $13 million
On June 30, 2021, Blair Industries had outstanding $82 million of 8% convertible bonds that mature on June 30, 2022. Interest is payable each year on June 30 and December 31. The bonds are convertible into 6 million shares of $10 par common stock. At June 30, 2021, the unamortized balance in the discount on bonds payable account was $4 million. On June 30, 2021, half the bonds were converted when Blair's common stock had a market price of $40...
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Please solve all Byron Books Inc. recently reported $18 million of net income. Its EBIT was $42.5 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $18 million of net income by (1 - T) -0.75 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar...
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