Homework Answers
| Income Statement | ||
| For the year ending March 31,2017 | ||
| Revenues | 1690000 | |
| Cost of goods sold | 812000 | |
| Earnings before interest, Taxes, Depreciation and Amortization | 878000 | |
| Depreciation | 175000 | |
| Earnings before interest and Taxes | 703000 | |
| Interest | 89575 | |
| Earnings before Taxes | 613425 | |
| Taxes | 214698.75 | =613425*35% |
| Net income/(loss) | 398726.25 |
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The Oriole Company has disdlosed the following financial information in its annual reports for the period...
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....
Question 7 The Sandhill Company has disclosed the following financial information in its annual reports for...
Question 7 The Sandhill Company has disclosed the following
financial information in its annual reports for the period ending
March 31, 2017: sales of $1.68 million, cost of goods sold of
$810,600, depreciation expenses of $175,000, and interest expenses
of $89,575. Assume that the firm has an average tax rate of 35
percent. What is the company’s net income? Set up an income
statement to answer the question. (Round answers to 2 decimal
places, e.g. 15.25) Sandhill Company Income Statement...
The Sunland Company has disclosed the following financial Information in its annual reports for the period...
The Sunland Company has disclosed the following financial Information in its annual reports for the period ending March 31, 2017: sales of $1.5 million, cost of goods sold of $808,000, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. Compute the cash flows to investors from operating activity. (Round answer to 2 decimal places, e.g. 15.25.)
The Sandhill Company has disclosed the following financial information in its annual reports for the period...
The Sandhill Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017: sales of $1.48 million, cost of goods sold of $810,000, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. Compute the cash flows to investors from operating activity. (Round answer to 2 decimal places, e.g. 15.25.) Cash flow from operating activity $____________
3.12 Cash flows: Given the data for Oakland Mills Company in Problem 3.7, compute the cash...
3.12 Cash flows: Given the data for Oakland Mills Company in Problem 3.7, compute the cash flows to investors from operating activity. 3.7. Income statement: The Oakland Mills Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017: sales of $1.45 million, cost of goods sold of $812,500, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. What is the...
Oriole Co. reports the following information for 2020: sales revenue $778,900, cost of goods sold $515,500,...
Oriole Co. reports the following information for 2020: sales revenue $778,900, cost of goods sold $515,500, operating expenses $89,100, and an unrealized holding loss on available-for-sale debt securities for 2020 of $58,700. It declared and paid a cash dividend of $12,690 in 2020. Oriole Co. has January 1, 2020, balances in common stock $355,000; accumulated other comprehensive income $84,300; and retained earnings $92,170. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. ORIOLE CO....
A hospitality corporation is preparing its annual reports. The accounting records show sales of $250,000, and...
A hospitality corporation is preparing its annual reports. The accounting records show sales of $250,000, and expenses, excluding depreciation, at $175,000. The company elects to use different depreciation methods for financial and tax reporting purposes. Depreciation for accounting purposes is $40,000, and for tax purposes the depreciation expense is $65,000. Compute the income before income taxes on the financial statements and the taxable income on the income tax return.
Ch 03 Cash flow from operating activity $
The Cullumber Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017: sales of $ 1.45 million, cost of goods sold of $ 805,000, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. Compute the cash flows to investors from operating activity. (Round answer to 2 decimal places, e.g. 15.25.)Cash flow from operating activity $
Condensed financial data of Oriole Company for 2020 and 2019 are presented below. ORIOLE COMPANY COMPARATIVE...
Condensed financial data of Oriole Company for 2020 and 2019 are
presented below.
ORIOLE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,810 Receivables 1,790 Inventory 1,570 Plant assets 1,870 Accumulated depreciation (1,230 ) Long-term investments (held-to-maturity) 1,300 $7,110 2019 $1,120 1,330 1,940 1,740 (1,150 ) 1,440 $6,420 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 200 1,370 1,860 2,460 $7,110 $910 260 1,550 1,740 1,960 $6,420 ORIOLE COMPANY INCOME STATEMENT FOR...
Problem 13-24 Blake Weaver, Oriole Enterprises' controller, is preparing the financial statements for 2016. He has...
Problem 13-24 Blake Weaver, Oriole Enterprises' controller, is preparing the financial statements for 2016. He has completed the comparative balance sheets and income statement, which follow, and has gathered this additional information: On December 31, 2016, Oriole sold a piece of equipment with an original cost of $25,280 for $30,260 cash. The equipment had a book value of $13,720. On February 1, 2016, Oriole issued $99,630 of common stock to raise cash in anticipation of the purchase of a new...
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....
Question 7 The Sandhill Company has disclosed the following
financial information in its annual reports for the period ending
March 31, 2017: sales of $1.68 million, cost of goods sold of
$810,600, depreciation expenses of $175,000, and interest expenses
of $89,575. Assume that the firm has an average tax rate of 35
percent. What is the company’s net income? Set up an income
statement to answer the question. (Round answers to 2 decimal
places, e.g. 15.25) Sandhill Company Income Statement...
The Sunland Company has disclosed the following financial Information in its annual reports for the period ending March 31, 2017: sales of $1.5 million, cost of goods sold of $808,000, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. Compute the cash flows to investors from operating activity. (Round answer to 2 decimal places, e.g. 15.25.)
3.12 Cash flows: Given the data for Oakland Mills Company in Problem 3.7, compute the cash flows to investors from operating activity. 3.7. Income statement: The Oakland Mills Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017: sales of $1.45 million, cost of goods sold of $812,500, depreciation expenses of $175,000, and interest expenses of $89,575. Assume that the firm has an average tax rate of 35 percent. What is the...
Oriole Co. reports the following information for 2020: sales revenue $778,900, cost of goods sold $515,500, operating expenses $89,100, and an unrealized holding loss on available-for-sale debt securities for 2020 of $58,700. It declared and paid a cash dividend of $12,690 in 2020. Oriole Co. has January 1, 2020, balances in common stock $355,000; accumulated other comprehensive income $84,300; and retained earnings $92,170. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. ORIOLE CO....
A hospitality corporation is preparing its annual reports. The accounting records show sales of $250,000, and expenses, excluding depreciation, at $175,000. The company elects to use different depreciation methods for financial and tax reporting purposes. Depreciation for accounting purposes is $40,000, and for tax purposes the depreciation expense is $65,000. Compute the income before income taxes on the financial statements and the taxable income on the income tax return.
Condensed financial data of Oriole Company for 2020 and 2019 are
presented below.
ORIOLE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,810 Receivables 1,790 Inventory 1,570 Plant assets 1,870 Accumulated depreciation (1,230 ) Long-term investments (held-to-maturity) 1,300 $7,110 2019 $1,120 1,330 1,940 1,740 (1,150 ) 1,440 $6,420 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 200 1,370 1,860 2,460 $7,110 $910 260 1,550 1,740 1,960 $6,420 ORIOLE COMPANY INCOME STATEMENT FOR...
Problem 13-24 Blake Weaver, Oriole Enterprises' controller, is preparing the financial statements for 2016. He has completed the comparative balance sheets and income statement, which follow, and has gathered this additional information: On December 31, 2016, Oriole sold a piece of equipment with an original cost of $25,280 for $30,260 cash. The equipment had a book value of $13,720. On February 1, 2016, Oriole issued $99,630 of common stock to raise cash in anticipation of the purchase of a new...
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