Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...

Question

Question

Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...

Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses: EBIT = $538,000, interest expense = $63,000, and net income = $435,000. Calculate the 2015 taxes reported on the income statement. (LG2-1)

business finance

Add a comment Improve this question Transcribed image text

Answer 1

Similar Homework Help Questions

The Fitness Studio, Inc.'s 2018 income statemernt lists the following income and expenses

The Fitness Studio, Inc.'s 2018 income statemernt lists the following income and expenses: EBIT $538,000, interesst expense $63,000, and net income $435,000. Calculate the 2018 taxes reported on the income statement. (Enter your answer in dollars. Round your answer to the nearest dollar amount.)
the fitness studio incs 2018 income statement lists the following income and expenses ebit= 540,000 interest expense=...

the fitness studio incs 2018 income statement lists the following income and expenses ebit= 540,000 interest expense= 80,000 and net income= 446,000 calculate the 2018 taxes reported on the income statement
The fitness studio inc 2018 income statement lists the following income and expenses: EBIT=776,000, interest expense=...

The fitness studio inc 2018 income statement lists the following income and expenses: EBIT=776,000, interest expense= 150,000, and taxes=219,100. The firm has not preferred stock outstanding and 100,000 shares of common stock outstanding. Calculate the 2018 earnings per share ( Round your answer to 2 decimal places)

Billy Bob, Inc.'s 201x income statement lists the following income and expenses: EBIT = $815,000, interest...

Billy Bob, Inc.'s 201x income statement lists the following income and expenses: EBIT = $815,000, interest expense = $90,000, and net income = $611,000. What are the 201x taxes reported on the income statement? (Answer in whole $s with no $ sign or commas needed, e.g. xxx000, or 123000)
Listed below is the 2015 income statement for Tom and Sue Travels, Inc. TOM AND SUE...

Listed below is the 2015 income statement for Tom and Sue Travels, Inc. TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2015 (in millions of dollars) Net sales $ 18.400 Less: Cost of goods sold 8.400 Gross profits $ 10.000 Less: Other operating expenses 3.850 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 6.150 Less: Depreciation 3.200 Earnings before interest and taxes (EBIT) $ 2.950 Less: Interest 0.810 Earnings before taxes (EBT) $ 2.140 Less:...
Problem 2-8 Corporate Taxes (LG2-3) Everybody's Fitness's 2021 income statement is reported below (in millions of...

Problem 2-8 Corporate Taxes (LG2-3) Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) الا [عا لما [n Everybody's Fitness Income Statement for 2021 (in millions of dollars) Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes Net income IWN O co UN Oluwoim 223 Determine the firm's 2021 tax...

$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold...

$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment Intangible assets Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227...
Oakdale Fashions, Inc.’s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021...

Oakdale Fashions, Inc.’s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 565,000 Less: Cost of goods sold 215,000 Gross profits $ 350,000 Less: Other operating expenses 90,000 EBITDA $ 260,000 Less: Depreciation and amortization 15,000 EBIT $ 245,000 Less: Interest 80,000 EBT $ 165,000 Less: Taxes Net income $ Determine the firm's 2021 tax liability. (Round your answer to the nearest dollar amount.) Determine the firm's 2021 net income. (Round...
Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold...

Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Eamings before interest and taxes (EBIT) Interest expense $634 170 $464 Pretax income Taxes 162 Net income $302 Dividends 75 Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227 Accounts payable 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment...

19. Migena's 2018 income statement lists the following income and expenses: EBIT = $900,000, interest expense...

19. Migena's 2018 income statement lists the following income and expenses: EBIT = $900,000, interest expense = $85,000, and net income = $570,000. What are the 2018 taxes reported on the income statement? There is t h e calcul 20. (worth 2 points) Consider a firm with an EBIT of $5,000,000. The firm finances its assets with $20,000,000 debt (costing 5 percent) and 70,000 shares of stock selling at $50.00 per share. To reduce the firm's risk associated with this...

Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...

Homework Answers

Request Answer!

Add Answer to:
Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...

Post as a guest

Earn Coins

The Fitness Studio, Inc.'s 2018 income statemernt lists the following income and expenses

the fitness studio incs 2018 income statement lists the following income and expenses ebit= 540,000 interest expense=...

The fitness studio inc 2018 income statement lists the following income and expenses: EBIT=776,000, interest expense=...

Billy Bob, Inc.'s 201x income statement lists the following income and expenses: EBIT = $815,000, interest...

Listed below is the 2015 income statement for Tom and Sue Travels, Inc. TOM AND SUE...

Problem 2-8 Corporate Taxes (LG2-3) Everybody's Fitness's 2021 income statement is reported below (in millions of...

$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold...

Oakdale Fashions, Inc.’s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021...

Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues $3,806 Cost of goods sold...

19. Migena's 2018 income statement lists the following income and expenses: EBIT = $900,000, interest expense...

Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...

Homework Answers

Request Answer!

Add Answer to: Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...

Post as a guest

Earn Coins

Add Answer to:
Income Statement The Fitness Studio, Inc.’s, 2015 income statement lists the fol- lowing income and expenses:...