Question
In: Finance
You have been given the following information for Sherry's Sandwich Corp.: Net sales = $300,000; Gross...
You have been given the following information for Sherry's
Sandwich Corp.:
Net sales = $300,000;
Gross profit = $100,000;
Addition to retained earnings = $30,000;
Dividends paid to preferred and common stockholders = $8,500;
Depreciation expense = $25,000.
The firm's tax rate is 30 percent. What are the cost of goods sold
and the interest expense for Sherry's Sandwich Corp.? explain by
steps.
Solutions
jeff jeffy answered 2 years agoRelated Solutions
1- You have been given the following information: Net sales = $20,000,000 Cost of goods sold...
1-
You have been given the following information:
Net sales = $20,000,000
Cost of goods sold = $9,000,000
Addition to retained earnings = $3,600,000
Dividends paid to preferred and common stockholders = $600,000
2-
the firm’s 2009 income statement lists the following: EBT =
$6,000, Interest expense = $0, and Taxes = $3,000. The firm’s has
no preferred stock outstanding and 30,000 shares of common stock
outstanding. the 2009 earnings per share is
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You have been given the following information for Kellygirl’s Athletic Wear Corp. for the year 2015:...
You have been given the following information for Kellygirl’s
Athletic Wear Corp. for the year 2015:
a. Net sales = $38,750,000.
b. Cost of goods sold = $22,190,000.
c. Other operating expenses = $6,100,000.
d. Addition to retained earnings = $1,207,500.
e. Dividends paid to preferred and common stockholders =
$1,935,500.
f. Interest expense = $1,835,000.
g. The firm’s tax rate is 30 percent.
h. In 2016, net sales are expected to increase by $9.75
million.
i. Cost of goods...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2021:...
You have been given the following information for PattyCake’s
Athletic Wear Corp. for the year 2021:
Net sales = $39,000,000.
Cost of goods sold = $22,240,000.
Other operating expenses = $6,600,000.
Addition to retained earnings = $1,212,500.
Dividends paid to preferred and common stockholders =
$1,948,000.
Interest expense = $1,860,000.
The firm’s tax rate is 30 percent.
In 2022:
Net sales are expected to increase by $10.00 million.
Cost of goods sold is expected to be 60 percent of net...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2018:...
You have been given the following information for PattyCake’s
Athletic Wear Corp. for the year 2018: Net sales = $38,450,000.
Cost of goods sold = $22,130,000. Other operating expenses =
$5,500,000. Addition to retained earnings = $1,201,500. Dividends
paid to preferred and common stockholders = $1,920,500. Interest
expense = $1,805,000. The firm’s tax rate is 30 percent. In 2019:
Net sales are expected to increase by $9.45 million. Cost of goods
sold is expected to be 60 percent of net...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2018:...
You have been given the following information for PattyCake’s
Athletic Wear Corp. for the year 2018: Net sales = $38,500,000.
Cost of goods sold = $22,140,000. Other operating expenses =
$5,600,000. Addition to retained earnings = $1,202,500. Dividends
paid to preferred and common stockholders = $1,923,000. Interest
expense = $1,810,000. The firm’s tax rate is 30 percent. In 2019:
Net sales are expected to increase by $9.50 million. Cost of goods
sold is expected to be 60 percent of net...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2018:...
You have been given the following information for
PattyCake’s Athletic Wear Corp. for the year 2018:
Net sales = $38,700,000.
Cost of goods sold = $22,180,000.
Other operating expenses = $6,000,000.
Addition to retained earnings = $1,206,500.
Dividends paid to preferred and common stockholders =
$1,933,000.
Interest expense = $1,830,000.
The firm’s tax rate is 30 percent.
In 2019:
Net sales are expected to increase by $9.70 million.
Cost of goods sold is expected to be 60 percent of net...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2018:...
You have been given the following information for PattyCake’s
Athletic Wear Corp. for the year 2018:
Net sales = $39,150,000.
Cost of goods sold = $22,270,000.
Other operating expenses = $6,900,000.
Addition to retained earnings = $1,215,500.
Dividends paid to preferred and common stockholders =
$1,955,500.
Interest expense = $1,875,000.
The firm’s tax rate is 30 percent.
In 2019:
Net sales are expected to increase by $10.15 million.
Cost of goods sold is expected to be 60 percent of net...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2018:...
You have been given the following information for PattyCake’s
Athletic Wear Corp. for the year 2018: Net sales = $39,100,000.
Cost of goods sold = $22,260,000. Other operating expenses =
$6,800,000. Addition to retained earnings = $1,214,500. Dividends
paid to preferred and common stockholders = $1,953,000. Interest
expense = $1,870,000. The firm’s tax rate is 30 percent. In 2019:
Net sales are expected to increase by $10.10 million. Cost of goods
sold is expected to be 60 percent of net...
You have been given the following information for PattyCake’s Athletic Wear Corp. for the year 2018:...
You have been given the following information for PattyCake’s
Athletic Wear Corp. for the year 2018:
Net sales = $38,550,000.
Cost of goods sold = $22,150,000.
Other operating expenses = $5,700,000.
Addition to retained earnings = $1,203,500.
Dividends paid to preferred and common stockholders =
$1,925,500.
Interest expense = $1,815,000.
The firm’s tax rate is 30 percent.
In 2019:
Net sales are expected to increase by $9.55 million.
Cost of goods sold is expected to be 60 percent of net...
a) You are given the following information in relation to Percussion Ltd: Sales £29,250,000 Gross profit...
a) You are given the following information in relation to
Percussion Ltd:
Sales £29,250,000
Gross profit margin 10%
General expenses £675,000
Tax £450,000
Number of shares issued at start of the period 400,000
Number of shares issued at full market price of £190 per share
for cash, half way through the period 320,000
Required:
(i) Calculate the price earnings ratio and the earnings per
share for Percussion Ltd.
(ii) If a company has a high price earnings ratio, what might...
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