Question

In: Finance

Dorothy Gale Adventures had annual sales of $7,162, depreciation expense of $996, cost of goods sold of $4,239, interest expense of $408, and taxes of $263.

Dorothy Gale Adventures had annual sales of $7,162, depreciation expense of $996, cost of goods sold of $4,239, interest expense of $408, and taxes of $263. Calculate the Net Income. 


A. $1,308 

B. $967 

C. $1,256 

D. $864 

E. $587

Solutions

Expert Solution


Related Solutions

Assume sales are $7,990, cost of goods sold is $2,120, depreciation expense is $140, interest paid...
Assume sales are $7,990, cost of goods sold is $2,120, depreciation expense is $140, interest paid is $180, selling and general expenses are $360, dividends paid are $1,170, and the tax rate is 21 percent. What is the addition to retained earnings? Group of answer choices $2,005.80 $4,100.10 $2,930.10 $3,175.80
2013 2014 sales 2100 Cost of Goods Sold 1200 Depreciation Expense 225 Interest Expense 175 Current...
2013 2014 sales 2100 Cost of Goods Sold 1200 Depreciation Expense 225 Interest Expense 175 Current Assets 1000 1300 Total Fixed Assets 3500 4000 Accumulated Depreciation 1250 This can be determined from the information given Current Liabilities 900 975 Long-term Debt 1500 1350 Common Stock 400 This can be determined from the information given Question 1 part one) Use the information above to construct a 2014 income statement and balance sheets for both years. The average tax rate is 35%...
sales=$10,980 cost of goods sold=$8,100 depreciation expense=$1,440 interest expense=$180 dividends paid=$270 Tax rate for the year...
sales=$10,980 cost of goods sold=$8,100 depreciation expense=$1,440 interest expense=$180 dividends paid=$270 Tax rate for the year was 35% what is the operating cash flow for the year
    income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000...
    income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000 interest expense -2,400 loss on equipment disposal -2,500 net income 63,100 Statement of Retained Earnings Beginning Balance - Retained Earnings                   6,000 Plus - Net Income                 63,100 Less - Dividends (41,500) Ending Balance - Retained Earnings 27,600 Balance sheets 2018 2019 change Assets: Cash 13,000 64,600 51,600 Accounts Receivable 25,000 19,000 (6,000) Inventory 19,000 13,000 (6,000) prepaid expenses 0 0 0 Equipment 60,000 41,000 (19,000)...
A firm has net sales of $5,500,000, Cost of Goods Sold $3,500,000, Depreciation Expense
of $300,000,...
A firm has net sales of $5,500,000, Cost of Goods Sold $3,500,000, Depreciation Expense
of $300,000, Selling and Administrative Expenses of $500,000, Interest Expense of $200,000, and an average tax rate of 20%. 25. The firm's Net Income is: a. 210,000 b. 400,000 c. 
700,000 d 
800,000 26. The firm's Operating Margin is: a. 14.0% b. 21.8% c. 33.3% 
d. 
67.1% 27. firm's Gross Profit Margin is: a. 21.5% b. 30.0% c. 
36.4% d 
50.0% 28. firm's Pre-taxable Income is:...
Thomson Corporation had the following operating results for 2019 (in 000’s): sales of $30,600; cost of goods sold of $21,800; depreciation expense of $4,200; interest expense of $1,040; dividends paid of $1,000
Thomson Corporation had the following operating results for 2019 (in 000’s): sales of $30,600; cost of goods sold of $21,800; depreciation expense of $4,200; interest expense of $1,040; dividends paid of $1,000. At the beginning of the year, net fixed assets were $23,600, current assets were $6,800, and current liabilities were $3,800. At the end of the year, net fixed assets were $25,800, current assets were $7,900, and current liabilities were $3,900. Total taxes are $1,500 ($1,424 paid, and $76...
Sales = $630,000, cost of goods sold = $480,000, depreciation = $43,000, interest paid = $62,000,...
Sales = $630,000, cost of goods sold = $480,000, depreciation = $43,000, interest paid = $62,000, tax rate = 35%. 1) What is net income? 2) If the company paid out $15,000 in dividends, what is the addition to retained earnings? 3) If the company has 25,000 shares of common stock outstanding, what are the earnings per share? 4) What is the dividend per share?
You are given the following information: 2018 Sales $23,000 Cost of goods sold $16,000 Depreciation expense...
You are given the following information: 2018 Sales $23,000 Cost of goods sold $16,000 Depreciation expense $4,000 Interest $1,800 Dividends $1,300 Tax rate 35% New debt issuance $2,000 2017 2018 Current assets $4,800 $5,900 Current liabilities $2,700 $3,200 Net fixed assets $14,000 $17,000 a. Calculate the operating cash flow for 2018. (Hint: Taxes = Earnings before taxes x Tax rate) (show your work) b. Calculate the cash flow from assets for 2018. (show your work ) c. Calculate the cash...
For Year 2019, Precision Masters had sales of $42,900, cost of goods sold of $26,800, depreciation...
For Year 2019, Precision Masters had sales of $42,900, cost of goods sold of $26,800, depreciation expense of $1,900, interest expense of $1,300, and the tax rate was 35%. 1. Prepare the income statement of the company of 2019. 2. Calculate NOPAT of the company. 3. Why is NOPAT a better measure of the company's operation result?
Last year, Dollar General had $7,000 in sales, and cost of goods sold was $4,000. Depreciation...
Last year, Dollar General had $7,000 in sales, and cost of goods sold was $4,000. Depreciation expenses totaled $1000 and interest expense was $1400. If the tax rate is 25%, what is the net profit margin for Dollar General? What is its NOPAT margin?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT