You are given the following information about Clarkesville Plumbing Company. Revenues in 2017 totaled 846,543, depreciation...
You are given the following information about Clarkesville Plumbing Company. Revenues in 2017 totaled 846,543, depreciation expenses 96,778, costs of goods sold 371,264, and interest expenses 50,067. At the end of the year, current assets were $121 and current liabilities were $107. The company has an average tax rate of 21 percent. Calculate its net income by setting up an income statement. Round to two decimal places.
Homework Answers
| Revenues | 846,543 |
| Costs of goods sold | 371,264 |
| EBITDA | 475,279 |
| Depreciation | 96,778 |
| EBIT | 378,501 |
| Interest | 50,067 |
| EBT | 328,434 |
| Taxes (21%) | 68,971.14 |
| Net income | 259,462.86 |
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You are given the following information about Clarkesville
Plumbing Company. Revenues in 2017 totaled 846,543, depreciation...
Question 7 2 pts Income statement: Fraser Corporation has announced that its net income for the...
Question 7 2 pts Income statement: Fraser Corporation has announced that its net income for the year ended June 30, 2017, was 1,350,417. The company had EBITDA of 4,953,958, and its depreciation and amortization expense was equal to 1,225,584. The company's average tax rate is 21 percent. What was its interest expense? Round to the nearest whole number. Question 8 2 pts You are given the following information about Clarkesville Plumbing Company. Revenues in 2017 totaled 834,153, depreciation expenses 75,580,...
Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): 2017...
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Use the following information for Taco Swel, Inc., (assume the tax rate is 22 percent): 2017...
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The Oriole company has disclosed the following financial information and its annual reports for the period...
The Oriole company has disclosed the following
financial information and its annual reports for the period ending
March 31 2017: sales of 1.67 million, cost of goods sold of
$813,500, depreciation expenses of $175,000, and interest expenses
of $89,575. assume that the firm has an average tax rate of 35%.
what is the company's net income? Set up an income statement to
answer the question
Label options for header include:
1. for the year ended on March 31, 2017
2....
ILILIULUI JUNI,UJU IIT 2017. It also hou expenses (excluding depreciation) $366,240, depreciation of $103,471, and interest...
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Question 7 2 pts Income statement: Fraser Corporation has announced that its net income for the year ended June 30, 2017, was 1,350,417. The company had EBITDA of 4,953,958, and its depreciation and amortization expense was equal to 1,225,584. The company's average tax rate is 21 percent. What was its interest expense? Round to the nearest whole number. Question 8 2 pts You are given the following information about Clarkesville Plumbing Company. Revenues in 2017 totaled 834,153, depreciation expenses 75,580,...
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Use the following information for Taco Swel, Inc., (assume the tax rate is 22 percent): 2017 2018 $ 14,573 $ 14,736 1,721 ,796 Sales Depreciation Cost of goods sold 4,279 4,767 Other expenses Interest Cash Accounts receivable 8,100 9,607 Short-term notes 854 956 6,157 6,646 976 825 1,230 1,207 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 20,500 24,786 51,020 54,453 4,480 4,824 14,385 15,348 ,250 1,678 Prepare a balance sheet for this company for 2017 and 2018....
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The Oriole company has disclosed the following
financial information and its annual reports for the period ending
March 31 2017: sales of 1.67 million, cost of goods sold of
$813,500, depreciation expenses of $175,000, and interest expenses
of $89,575. assume that the firm has an average tax rate of 35%.
what is the company's net income? Set up an income statement to
answer the question
Label options for header include:
1. for the year ended on March 31, 2017
2....
ILILIULUI JUNI,UJU IIT 2017. It also hou expenses (excluding depreciation) $366,240, depreciation of $103,471, and interest expense of $52,413. What was the company's net income after taxes if its average tax rate was 40 percent? Cullumber Enterprises has total current assets of $345,002 and fixed assets of $466,306. The company also has long-term debt of $287,400, $100,000 in its common stock account, and retained earnings of $187,570. What is the value of its total current liabilities?
In its income statement for the year ended December 31, 2017, Pharoah Company reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $465,000 Loss on disposal of plant assets 1,243,000 Sales revenue 66,000 Income tax expense 127,900 Sales discounts 305,000 Utilities expense $83,500 2,410,000 25,000 150,000 110,000 Prepare a multiple-step income statement. (List other revenues before other expenses.) PHAROAH COMPANY Income Statement PHAROAH COMPANY Income Statement
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