A recent income statement for Rainier Printing is shown next. Net sales $10,000 Cost of sales...
A recent income statement for Rainier Printing is shown next.
Net sales $10,000
Cost of sales 6,500
Gross profit 3,500
Operating expense 1,200
Depreciation expense 600
Operating income 1,700
Interest expense 300
Income before tax 1,400
Tax 420
Income after tax $980
Calculate Rainier’s free cash flow in this year, assuming it spent $630 on new capital equipment and increased current assets net of non-interest-bearing current liabilities by $450.
Homework Answers
Detailed answer is provided in the hand written notes below.
Add Answer to:
A recent income statement for Rainier Printing is shown
next.
Net sales $10,000
Cost of sales...
(b) You have been furnished with extract of a recent statement of Comprehensive Income for Horizon...
(b) You have been furnished with extract of a recent statement of Comprehensive Income for Horizon limited. Sh.'000 8,000 (4,300) Net Sales Cost of sales Depreciation Gross profit Selling and Administrative expenses Interest expense Income before tax 3,300 (930) 1,800ノ (540) Income after tax In the recent year, Horizon Limited spent Kenya shilling five hundred thousand on new capital investment It also increased current assets net of non-interest bearing current liabilities by three hundred thousand. 20 Required Calculate Horizon's free...
Below is a recent income statement for Gatlin Camera: Net Sales $8,000 Cost of Sales (including...
Below is a recent income statement for Gatlin Camera: Net Sales $8,000 Cost of Sales (including depreciation of $800) 4,700 Gross Profit 3,300 Selling and Admin. expenses (including interest expense of $570) 1,500 Income before Tax 1,800 Tax 612 Income After Tax 1,188 Calculate Gatlin's free cash flow in this year assuming it spent $510 on new capital equipment and increased working capital of $340. EDIT: Please show the work in order for me to understand
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $5.8 million, and net income of $850,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 500 900 1,400 3,400 $6,200 $ 580 600 1,200 3,120 $5,500 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The following information relates to SE10-5 through SE10-7: SMITH & SONS, INC. Income Statement For Years...
The following information relates to SE10-5 through SE10-7: SMITH & SONS, INC. Income Statement For Years Ended December 31, 2016 and 2015 2016 2015 $10,000 $ 9,500 (in millions) (,500) (5.2 5,20 Net sales.. 4,500 4,300 2,800) (2.700 1,700 1,600 (300) (250) 1,400 1,350 (420) (400 $ 980 $ 950 . . . . Gross profit Selling and administrative expenses Income from operations. . Interest expense. Income before income taxes . .. Income tax expense. Net income.. SMITH & SONS,...
Seved Help Week 3: Homework 7 2821 Income Statement Net sales $1e, Bee Cost of goods...
Seved Help Week 3: Homework 7 2821 Income Statement Net sales $1e, Bee Cost of goods sold (6,55e) Gross profit 3,450 Operating expenses (2,350 Interest expense (389 Income tax expense (320 Net Income 480 10 points eBook Comparative Balance Sheets Dec 31 2021 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $780 70e sie be Be 55,360 34, see $1,760 $1.450 Liabilities and Shareholders' Equity Current liabilities Bonds payable Cont stock Retard earnings 856 Required: Calculate the following...
Royster Company presents the following income statement: Sales $12,000 Cost of goods sold $6,000 Selling and...
Royster Company presents the following income statement: Sales $12,000 Cost of goods sold $6,000 Selling and administrative expense $1,200 Interest expense $600 Pretax income $4,200 Income tax expense $1,470 Net income $2,730 Which of the following line items would appear on a common-size income statement for this period? Net income 65% Income tax expense 54% Pretax income 35%
INCOME STATEMENT, 2018 BALANCE SHEET, as of Dec 31, 2018 Sales $10,000 ASSETS Cost of goods...
INCOME STATEMENT, 2018 BALANCE SHEET, as of Dec 31, 2018 Sales $10,000 ASSETS Cost of goods sold 4,000 Cash $5,000 Gross profit $6,000 Accounts receivable 3,000 S, G & A expenses 3,000 Inventory 17,000 EBIT $3,000 Current assets $25,000 Interest $200 Equipment (gross) 27,000 Before-tax earnings $2,800 Less Accum Depreciation (12,000) Taxes 1,000 Equipment (net) $15,000 Net income $1,800 Total assets $40,000 LIABILITIES AND EQUITY EPS $1.80 Accounts payable $17,000 Current liabilities $17,000 Dividends $600 Long-term debt $3,000 Addition to...
INCOME STATEMENT, 2018 BALANCE SHEET, as of Dec 31, 2018 Sales $10,000 ASSETS Cost of goods...
INCOME STATEMENT, 2018 BALANCE SHEET, as of Dec 31, 2018 Sales $10,000 ASSETS Cost of goods sold 4,000 Cash $5,000 Gross profit $6,000 Accounts receivable 3,000 S, G & A expenses 3,000 Inventory 17,000 EBIT $3,000 Current assets $25,000 Interest $200 Equipment (gross) 27,000 Before-tax earnings $2,800 Less Accum Depreciation (12,000) Taxes 1,000 Equipment (net) $15,000 Net income $1,800 Total assets $40,000 LIABILITIES AND EQUITY EPS $1.80 Accounts payable $17,000 Current liabilities $17,000 Dividends $600 Long-term debt $3,000 Addition to...
Whirly Corporation's contribution format income statement for the most recent month is shown below: Sales (7,500...
Whirly Corporation's contribution format income statement for the most recent month is shown below: Sales (7,500 units) Variable expenses Contribution margin Total $ 247,500 150,000 Per Unit $ 33.00 20.00 $ 13.00 Fixed expenses Net operating income 97,500 55,300 $ 42,200 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 80 units? 2. What would be the revised net operating income per month if the sales volume...
Whirly Corporation's contribution format income statement for the most recent month is shown below: Sales (7,400...
Whirly Corporation's contribution format income statement for the most recent month is shown below: Sales (7,400 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $ 236,800 140,600 96, 200 54,100 $ 42,100 Per Unit $ 32.00 19.00 $ 13.00 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 100 units? 2. What would be the revised net operating income per month if the sales...
(b) You have been furnished with extract of a recent statement of Comprehensive Income for Horizon limited. Sh.'000 8,000 (4,300) Net Sales Cost of sales Depreciation Gross profit Selling and Administrative expenses Interest expense Income before tax 3,300 (930) 1,800ノ (540) Income after tax In the recent year, Horizon Limited spent Kenya shilling five hundred thousand on new capital investment It also increased current assets net of non-interest bearing current liabilities by three hundred thousand. 20 Required Calculate Horizon's free...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $5.8 million, and net income of $850,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 500 900 1,400 3,400 $6,200 $ 580 600 1,200 3,120 $5,500 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The following information relates to SE10-5 through SE10-7: SMITH & SONS, INC. Income Statement For Years Ended December 31, 2016 and 2015 2016 2015 $10,000 $ 9,500 (in millions) (,500) (5.2 5,20 Net sales.. 4,500 4,300 2,800) (2.700 1,700 1,600 (300) (250) 1,400 1,350 (420) (400 $ 980 $ 950 . . . . Gross profit Selling and administrative expenses Income from operations. . Interest expense. Income before income taxes . .. Income tax expense. Net income.. SMITH & SONS,...
Seved Help Week 3: Homework 7 2821 Income Statement Net sales $1e, Bee Cost of goods sold (6,55e) Gross profit 3,450 Operating expenses (2,350 Interest expense (389 Income tax expense (320 Net Income 480 10 points eBook Comparative Balance Sheets Dec 31 2021 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $780 70e sie be Be 55,360 34, see $1,760 $1.450 Liabilities and Shareholders' Equity Current liabilities Bonds payable Cont stock Retard earnings 856 Required: Calculate the following...
Whirly Corporation's contribution format income statement for the most recent month is shown below: Sales (7,500 units) Variable expenses Contribution margin Total $ 247,500 150,000 Per Unit $ 33.00 20.00 $ 13.00 Fixed expenses Net operating income 97,500 55,300 $ 42,200 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 80 units? 2. What would be the revised net operating income per month if the sales volume...
Whirly Corporation's contribution format income statement for the most recent month is shown below: Sales (7,400 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $ 236,800 140,600 96, 200 54,100 $ 42,100 Per Unit $ 32.00 19.00 $ 13.00 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 100 units? 2. What would be the revised net operating income per month if the sales...
Most questions answered within 3 hours.
-
What is the net ionic equation for the reaction that would occur
when an aqueous solution...
asked 2 hours ago -
A
student bought $1000 worth of furniture. What is the equivalent
annual cost if it is...
asked 2 hours ago -
What taboo subject did Ida B. Wells suggest was consensual
between black men and white women?...
asked 4 hours ago -
You have just been hired by the EPA to help with the new gas
mileage standards...
asked 4 hours ago -
4) A firm is hit by increases in its wage rate, w.
a) How does this...
asked 5 hours ago -
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 7 hours ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 7 hours ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 7 hours ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 8 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 8 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 9 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 9 hours ago