Sales = $1000 and costs = $500. Interest expense = $100 and depreciation = $100. The tax rate is 30%. Net income? A. $210 B. $300 C. $90 D. $270
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Sales = $1000 and costs = $500. Interest expense = $100 and depreciation = $100. The tax rate is 30%. Net income?
A. $210
B. $300
C. $90
D. $270
Step by step
Solved in 4 steps
- Assume the following: Revenue = $1,500; COGS = $450; SGA = $300; EBIT = $600; Taxable income = $525; Net Income = $315. What is Taxes? 29% 8% 14% 40%H1. Account I would need to calculate with the following information provided. This is all that was provided to me. COGS: 68% - SGA: 13% - R&D: 2% - Depreciation, Interest expenses are fixed as stated. Tax rate is 19% ***Please do provide a step by step calculations and explanation***If EBIT is 15,00,000, interest is 250000,corporare tax is 40 percent degree of financial leverage is a. 1:11 b. 1.20 c. 1.31 d. 1.41
- 2. Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?.. . ........ ..................•... .....•.....•...... Sales $ 100,000 Depreciation expensel1,000 Cost of goods sold60,000 Dividend revenue9,000 Salary expense8,000 Utilities expense1,000 Extraordinary loss10,000 Interest expense2,000Calculate (A) actual sales and (B) sales tax liability:Total sales: $23,152.81 (includes a 5% tax.) (Round your answers to the nearest cent.) A. Actual sales B. Sales tax liabilityConsider the following data extracted from an after-tax cash flow calculation. Before-Tax-and-Loan = $22,500 Loan Principal Payment = $7,434 Loan Interest Payment = $892 MACRS Deduction = $7,405 Taxes Due = $3,550.75Which of the following is closest to the after-tax cash flow? a. $1,372 b. $8,777 c. $10,623 d. $16,211
- Sales: $100, Admin, Exp: $100, Depreciation:$50, Mkt. Exp.: $50, Interest Exp.: $50. The gross margin is 30%. Find the survival revenue?a. Fill in the following table assuming MACRS depreciation rates (10 points) Year 0 1 2 3 4 5 6 Pretax income MACRS Taxable Depreciation income Tax owed After tax income Inflation adjustment factor Real after tax income b. If MARR = 18%, should you purchase this system based on your real after-tax income? Why or why not? (5 points)3.4 Andre's Bakery has sales of $100,000 with costs of $50,000. Interest expense is $20,000 and depreciation is $10,000. The tax rate is 35 percent. What is the amount of tax paid? (hint: 7000)(hint: tax = taxable income * tax rate and taxable income = EBT)
- Consider the following data extracted from an after-tax cash flow calculation. Before-Tax-and-Loan = $22,500 Loan Principal Payment = $5,926 Loan Interest Payment = $2,400 MACRS Depreciation Deduction = $16,665 Which of the following is closest to the Taxable Income? a. −$2,491. b. −$91. c. $3,435. d. $14,1744. Andre's Bakery has sales of $100,000 with costs of $50,000. Interest expense is $20,000 and depreciation is $10,000. The tax rate is 35 percent. What is the amount of tax paid? (hint: 7000)(hint: tax = taxable income tax rate and taxable income = EBT) 5. Andre's Bakery has sales of $100,000 with costs of $50,000. Interest expense is $20,000 and depreciation is $10,000. The tax rate is 35 percent. The company also paid $3,000 for dividend. What is the retained earning? (hint: retained earning - net income-dividend)(hint: 10,000) 6. The Blue Bonnet's 2021 balance sheet showed net fixed assets of $2.2 million, and the 2022 balance sheet showed net fixed assets of $2.6 million. The company's income statement showed a depreciation expense of $1,000,000. What was the amount of the net capital spending for 2022? ($1,400,000)What is the corrected net income before tax for the current year? A. 4,450,000B. 5,000,000C. 5,150,000D. 5,700,000