Homework Answers
| Income Statement | ||
| For the year ended December 31,2017 | ||
| Sales Revenue | 438000 | |
| Cost of goods sold | 211000 | |
| Gross Profit/(Loss) | 227000 | |
| Operating Expenses | 71000 | |
| Income from Oeprations | 156000 | |
| Other Revenues and Gains | 45500 | |
| Income before taxes | 201500 | |
| Income tax expense | 50375 | =201500*25% |
| Net income/(Loss) | 151125 |
Add Answer to:
The following information is available for Reinsch Corporation for the year ended December 31, 2017: cost...
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost...
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost of goods sold $223,000, sales revenue $457,000, other revenues and gains $54,500, and operating expenses $80,000. Assuming a corporate tax rate of 30%, prepare an income statement for the company. CORONADO CORPORATION Income Statement
The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales...
The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales revenue $770,000, other revenues and gains $91,500, operating expenses $109,000, cost of goods sold $470,000, other expenses and losses $34,000, and preferred stock dividends $31,850. The company’s tax rate was 30%, and it had 49,000 shares outstanding during the entire year. Prepare a corporate income statement.
The following information is available for Oriole Corporation for the year ended December 31, 2020: sales...
The following information is available for Oriole Corporation for the year ended December 31, 2020: sales revenue $815,000, other revenues and gains $94,000, operating expenses $117,000, cost of goods sold $460,000, other expenses and losses $34,500, and preferred stock dividends $34,125. The company’s tax rate was 35%, and it had 65,000 shares outstanding during the entire year. Prepare a corporate income statement. (List other revenues before other expenses.)
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales...
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses $116,000, cost of goods sold $464.000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares outstanding during the entire year Prepare a corporate Income statement. (List other revenues before other expenses.) ORIOLE CORPORATION Income Statement < < < < < < < Calculate...
Brief Exercise 14 07 The following information is available for Waterway Corporation for the year ended...
Brief Exercise 14 07 The following information is available for Waterway Corporation for the year ended December 31, 2020: cost of goods sold $215,000, sales revenue $471,000, other revenues and gains $47,000, and operating expenses $74,000. Assuming a cowperate tax rate of 2 prepare an income statement for the company. WATERWAY CORPORATION Income Statement
The following information is available for Riverbed Corp. for the year ended December 31, 2017: Other...
The following information is available for Riverbed Corp. for the year ended December 31, 2017: Other revenues and gains $10,800 Sales revenue $666,500 Other expenses and losses 14,500 Operating expenses 252,800 Cost of goods sold 191,300 Sales returns and allowances 40,000 Other comprehensive income 5,000 Prepare a multiple-step income statement for Riverbed Corp and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income. RIVERBED CORP Comprehensive Income Statement For...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses 116,000, cost of goods sold $464,000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares utstanding during the entire year repare a corporate income statement. (List other revenues before other expenses.) ORIOLE CORPORATION In State Calculate earnings per share. (Round answer to 2...
The following information is available for Marin Corp. for the year ended December 31, 2022. Other...
The following information is available for Marin Corp. for the year ended December 31, 2022. Other revenues and gains $20,800 Other expenses and losses 2,800 Cost of goods sold 276,000 Sales discounts 2,800 Sales revenue 743,000 Operating expenses 206,000 Sales returns and allowances 8,200 Prepare a multiple-step income statement for Marin Corp. The company has a tax rate of 25%. MARIN CORP. Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue Less 743000 Sales Returns and Allowances...
The following information is available for Marin Corp. for the year ended December 31, 2022. Other...
The following information is available for Marin Corp. for the year ended December 31, 2022. Other revenues and gains $20,800 Other expenses and losses 2,800 Cost of goods sold 276,000 Sales discounts 2.800 Sales revenue 743,000 Operating expenses 206,000 Sales returns and allowances 8,200 Prepare a multiple-step income statement for Marin Corp. The company has a tax rate of 25%. MARIN CORP. Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue Less 743000 Sales Returns and Allowances...
The following information is available for Blue Spruce Corp. for the year ended December 31, 2017:...
The following information is available for Blue Spruce Corp. for
the year ended December 31, 2017:
Other revenues and gains
$12,000
Sales revenue
$603,000
Other expenses and losses
14,000
Operating expenses
203,300
Cost of goods sold
233,900
Sales returns and allowances
40,000
Other comprehensive income
5,900
We were unable to transcribe this imageBLUE SPRUCE CORP. Income Statement For the Year Ended December 31, 2017 - A We were unable to transcribe this image
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost of goods sold $223,000, sales revenue $457,000, other revenues and gains $54,500, and operating expenses $80,000. Assuming a corporate tax rate of 30%, prepare an income statement for the company. CORONADO CORPORATION Income Statement
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses $116,000, cost of goods sold $464.000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares outstanding during the entire year Prepare a corporate Income statement. (List other revenues before other expenses.) ORIOLE CORPORATION Income Statement < < < < < < < Calculate...
Brief Exercise 14 07 The following information is available for Waterway Corporation for the year ended December 31, 2020: cost of goods sold $215,000, sales revenue $471,000, other revenues and gains $47,000, and operating expenses $74,000. Assuming a cowperate tax rate of 2 prepare an income statement for the company. WATERWAY CORPORATION Income Statement
The following information is available for Riverbed Corp. for the year ended December 31, 2017: Other revenues and gains $10,800 Sales revenue $666,500 Other expenses and losses 14,500 Operating expenses 252,800 Cost of goods sold 191,300 Sales returns and allowances 40,000 Other comprehensive income 5,000 Prepare a multiple-step income statement for Riverbed Corp and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income. RIVERBED CORP Comprehensive Income Statement For...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses 116,000, cost of goods sold $464,000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares utstanding during the entire year repare a corporate income statement. (List other revenues before other expenses.) ORIOLE CORPORATION In State Calculate earnings per share. (Round answer to 2...
The following information is available for Marin Corp. for the year ended December 31, 2022. Other revenues and gains $20,800 Other expenses and losses 2,800 Cost of goods sold 276,000 Sales discounts 2,800 Sales revenue 743,000 Operating expenses 206,000 Sales returns and allowances 8,200 Prepare a multiple-step income statement for Marin Corp. The company has a tax rate of 25%. MARIN CORP. Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue Less 743000 Sales Returns and Allowances...
The following information is available for Marin Corp. for the year ended December 31, 2022. Other revenues and gains $20,800 Other expenses and losses 2,800 Cost of goods sold 276,000 Sales discounts 2.800 Sales revenue 743,000 Operating expenses 206,000 Sales returns and allowances 8,200 Prepare a multiple-step income statement for Marin Corp. The company has a tax rate of 25%. MARIN CORP. Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue Less 743000 Sales Returns and Allowances...
The following information is available for Blue Spruce Corp. for
the year ended December 31, 2017:
Other revenues and gains
$12,000
Sales revenue
$603,000
Other expenses and losses
14,000
Operating expenses
203,300
Cost of goods sold
233,900
Sales returns and allowances
40,000
Other comprehensive income
5,900
We were unable to transcribe this imageBLUE SPRUCE CORP. Income Statement For the Year Ended December 31, 2017 - A We were unable to transcribe this image
Most questions answered within 3 hours.
-
Do not neglect the old for the new. The existing business must
not lose priority simply...
asked 2 hours ago -
Kylie is a single mom with two dependent children,
Tanner, age 7 and Olivia, age 11....
asked 3 hours ago -
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 4 hours ago -
Derive the long wavelength limit of the Planck energy density
distribution
asked 4 hours ago -
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 8 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 8 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 8 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 8 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 8 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 8 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 8 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 8 hours ago