Misty Company reported the following before-tax items during the
current year:
Sales revenue | $ | 1,550 | |
Selling and administrative expenses | 830 | ||
Restructuring charges | 20 | ||
Loss on discontinued operations | 60 | ||
Misty's effective tax rate is 25%.
What is Misty's income from continuing operations?
Income statement
Sales revenue | 1,550 |
Selling and administrative expense | -830 |
Restructuring charge | -20 |
Income before tax | 700 |
Income tax expense (700 x 25%) | -175 |
income from continuing operations | $525 |
Misty's income from continuing operations = $525
Misty Company reported the following before-tax items during the current year: Sales revenue $ 1,550 Selling...
Misty Company reported the following before-tax items during the current year: Sales revenue Selling and administrative expenses Restructuring charges Loss on discontinued operations $660 310 40 70 Misty's effective tax rate is 40%. What is Misty's income from continuing operations?
Misty Company reported the following before-tax items during the current year: Sales revenue $ 740 Selling and administrative expenses 390 Restructuring charges 80 Loss on discontinued operations 90 Misty's effective tax rate is 40%. What is Misty's net income for the current year?
1.- Chihuahuas Inc. reported the following before-tax items during the current year: Sales revenue $3,000 Selling and administrative expenses 1,250 Foreign currency translation gain 300 Gain on discontinued operations 250 Interest expense 200 Chihuahuas’ effective tax rate is 35%. What is Chihuahuas’ income from continuing operations after income taxes (rounded)? 2.- The Payne Corporation reported net income of $4,500,000 for the fiscal year ended December 31, 2018. Preferred stock dividends declared during the year were $450,000. Payne had 9 million...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue $ 31,000 Cost of goods sold $ 17,000 Interest revenue 360 Selling and administrative expense 3,800 Interest expense 560 Restructuring costs 2,100 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.9 million and a gain on disposal of the component’s assets of $4.6 million. 600,000 shares...
Rembrandt Paint Company had the following income statement items
for the year ended December 31, 2021 ($ in thousands):
Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (L04-1, 4-3, 4-4, 4-5) Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 32,000 380 580 Cost of goods sold Selling and administrative expense Restructuring costs $ 17,500 3,900 2,200 In addition, during the year...
Cendant Corporation's results for the year ended December 31, 2021, include the following material items: Sales revenue $ 6,200,000 Cost of goods sold 3,800,000 Selling and administrative expenses 1,300,000 Loss on sale of investments 200,000 Loss on discontinued operations 500,000 Loss on impairment from continuing operations 80,000 Cendant Corporation's income from continuing operations before income taxes for 2021 is:
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $26,000 cost of goods sold 260 Selling and administrative expense 460 Restructuring costs $14,500 3,300 1,600 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.4 million and a gain on disposal of the component's assets of $3.6 million. 600,000 shares of common...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $30,000 cost of goods sold 340 Selling and administrative expense 540 Restructuring costs $ 16,500 3,700 2,000 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.8 million and a gain on disposal of the component's assets of $4.4 million. 600,000 shares of...
Only need the values of income from operations of discontinued
component, Income tax expense, income from continuing operations
and income on discontinued operations. Thanks
Rembrandt Paint Company had the following Income statement Items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 27,00€ 282 480 Cost of goods sold Selling and administrative expense Restructuring costs $ 15,000 3,400 1,7ee In addition, during the year the company completed the disposal of its plastics...
Corporation INCOME STATEMENT For the Year Ended December 31, 2020 Sales Revenue Cost of Goods Sold 705000 Gross Profit/(Loss) 504000 Selling Expenses Selling Expenses 125200 Administrative Expenses 170800 296000 < 208000 Interest Expense 7100 Dividend Revenue 18700 Interest Expense - 11600 196400 Income Before Income Taxes -58920 Income from Continuing Operations 137480 Income from Continuing Operations -51800 Discontinued Operations Loss, Net of Tax $ 85680 Net Income /(Loss) Per Share of Common Stock $ 85680 Net Income /(Loss) 50000 $...