During 2018, Founders Brewery had sales of $2,290,454. The cost of goods sold $1,218,960 and other expenses were $406,320. Depreciation during the year was $162,224 and financing costs (interest expenses) were $262,670. What is the firm's net income after taxes if the tax rate is 34 percent (round to the nearest integer)?
During 2018, Founders Brewery had sales of $2,290,454. The cost of goods sold $1,218,960 and other...
During 2018, Raines Umbrella Corp. had sales of $721,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $448,000, $96,000, and $141,500, respectively. In addition, the company had an interest expense of $71,000 and a tax rate of 23 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) company had an a. What is the company's net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive...
8 During 2018, Raines Umbrella Corp. had sales of $748,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $457,000, $100,500, and $146,000, respectively. In addition, the company had an interest expense of $72,800 and a tax rate of 22 percent. (lgnore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) points a. What is the company's net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.)...
During 2018, Raines Umbrella Corp. had sales of $742,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $455,000, $99,500, and $145,000, respectively. In addition, the company had an interest expense of $72,400 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) a. What is the company's net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.) b. What...
During 2018, Raines Umbrella Corp. had sales of $739,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $454,000, $99,000, and $144,500, respectively. In addition, the company had an interest expense of $72,200 and a tax rate of 24 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) a. What is the company's net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.) b. What...
During 2018, Raines Umbrella Corp. had sales of $715,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $446,000, $95,000, and $140,500, respectively. In addition, the company had an interest expense of $70,600 and a tax rate of 21 percent. (Ignore any tax loss carry forward provisions and assume interest expense is fully tax deductible.) a. What is the company’s net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.) b....
During 2018, Raines Umbrella Corp. had sales of $705,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $445,000, $95,000, and $140,000, respectively. In addition, the company had an interest expense of $70,000 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose Raines Umbrella Corp. paid out $102,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was...
During 2018, Raines Umbrella Corp. had sales of $800,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $580,000, $90,000, and $150,000, respectively. In addition, the company had an interest expense of $89,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose the company paid out $53,000 in cash dividends. If net capital spending and net working capital was zero, and if no new stock...
Lemon Auto Wholesalers had sales of $1,180,000 last year, and cost of goods sold represented 73 percent of sales. Selling and administrative expenses were 13 percent of sales. Depreciation expense was $12,000 and interest expense for the year was $13,000. The firm's tax rate is 30 percent a. Compute earnings after taxes Lemon Auto Wholesalers Income Statement
During 2018, Raines Umbrella Corp. had sales of $705,000. Cost of goods sold administrative and selling expenses, and depreciation expenses were $445,000, $95,000, and $140,000, respectively In addition, the company had an interest expense of $70,000 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose Raines Umbrella Corp. paid out $102,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was...
Sheryl's Shipping had sales last year of $12,000. The cost of goods sold was $6,900, general and administrative expenses were $1,400, interest expenses were $900, and depreciation was $1,400. The firm's tax rate is 21%. a. What are earnings before interest and taxes? Earnings before interest and taxes $ 2300 b. What is net income? Net income c. What is cash flow from operations? Cash flow from operations