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Last year, California Sushi and Such (CSS) had sales of $65
million. The firm's operating expenses amounted to $20 million and
costs of goods sold totaled $15 million. In addition, CSS received
$80,000 in dividend income, and paid $300,000 in dividends to its
stockholders. CSS has $25 million in bonds outstanding with an
annual interest payment of 9%. The firm also had $4 million in
depreciation expense, and sold land for $3.5 million that had been
purchased for $2.5 million...
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Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $6 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million...
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I know that capital losses may be carried backwards 3 years and
forward 5 years but how come in this problem we have a loss of
10,000 we do don't take it out of income before applying taxes?
what if in this problem we had a capital gain and a loss? would you
subtract the loss from the gain and include that number in the tax
liability calculation? please explain
Question 2 0/1 pts Last year, your company had sales...
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Butterfly Tractors had $20.50 million in sales last year. Cost of goods sold was $9.30 million, depreciation expense was $3.30 million, interest payment on outstanding debt was $2.30million, and the firm's tax rate was 30%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) Net income million b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) Net cash flow million C. What would happen...
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Butterfly Tractors had $21.50 million in sales last year. Cost of goods sold was $9.50 million, depreciation expense was $3.50 million, interest payment on outstanding debt was $2.50 million, and the firm's tax rate was 21% a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow...
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(Corporate income tax) Last year Sanderson, Inc. had sales of $3.9 million. The firm's cost of goods sold came to $2.4 million, its operating expenses excluding depreciation of $98,000 were $406,000, and the firm paid $151,000 in interest on its bank loans. Also, the corporation received 49,000 in dividend income from a company in which it owned less than 20 percent of its shares) but paid $23,000 in the form of dividends to its own common stockholders. Use the corporate...
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(Ratio Analysis): Last year Co. XYZ had sales of $ 400,000, with
“cost of goods sold” of $ 112,000. The firm had operating expenses
of $ 130,000, and an increase in retained earnings of $ 58,000.
There are currently 22,000 common shares issued and the firm pays $
1.60 dividend per share.
A. Assuming that the firm's profits are taxed at 34%, build an
“Income Statement” for the firm.
B. Compute the "Operating Profit Margin" for the signature.
C. What...
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(Evaluating profitability) Last year, Stevens Inc. had sales
of $404000, with a cost of goods sold of $117000. The firm's
operating expenses were 125000 , and its increase in retained
earnings was $55000. There are currently 21400 common stock shares
outstanding and the firm pays a $1.56 dividend per share.
a. Assuming the firm's earnings are taxed at 21 percent,
construct the firm's income statement.
b. Compute the firm's operating profit margin.
c. What was the times interest earned?
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Butterfly Tractors had $15.50 million in sales last year. Cost
of goods sold was $8.30 million, depreciation expense was $2.30
million, interest payment on outstanding debt was $1.30 million,
and the firm’s tax rate was 21%.
a. What was the firm’s net income?
(Enter your answers in millions rounded to 2 decimal
places.)
b. What was the firm’s cash flow?
(Enter your answers in millions rounded to 2 decimal
places.)
c. What would happen to net income and cash
flow...
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Butterfly Tractors had $23.00 million in sales last year. Cost
of goods sold was $9.80 million, depreciation expense was $3.80
million, interest payment on outstanding debt was $2.80 million,
and the firm’s tax rate was 21%.
a. What was the firm’s net income? (Enter your answers in
millions rounded to 2 decimal places.)
b. What was the firm’s cash flow? (Enter your answers in millions
rounded to 2 decimal places.)
c. What would happen to net income and cash flow...
Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $6 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million...
I know that capital losses may be carried backwards 3 years and
forward 5 years but how come in this problem we have a loss of
10,000 we do don't take it out of income before applying taxes?
what if in this problem we had a capital gain and a loss? would you
subtract the loss from the gain and include that number in the tax
liability calculation? please explain
Question 2 0/1 pts Last year, your company had sales...
Butterfly Tractors had $20.50 million in sales last year. Cost of goods sold was $9.30 million, depreciation expense was $3.30 million, interest payment on outstanding debt was $2.30million, and the firm's tax rate was 30%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) Net income million b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) Net cash flow million C. What would happen...
Butterfly Tractors had $21.50 million in sales last year. Cost of goods sold was $9.50 million, depreciation expense was $3.50 million, interest payment on outstanding debt was $2.50 million, and the firm's tax rate was 21% a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow...
(Corporate income tax) Last year Sanderson, Inc. had sales of $3.9 million. The firm's cost of goods sold came to $2.4 million, its operating expenses excluding depreciation of $98,000 were $406,000, and the firm paid $151,000 in interest on its bank loans. Also, the corporation received 49,000 in dividend income from a company in which it owned less than 20 percent of its shares) but paid $23,000 in the form of dividends to its own common stockholders. Use the corporate...