The Burger Joint paid $420 in dividends and $611 in interest expense. The addition to retained earnings is $397.74 and net new equity is $750. The tax rate is 34 %. Sales are $6, 250 and depreciation is $710. What are the earnings before interest and taxes? Multiple Choice S1, 582.16 S1, 780.82 $1,850.00 $1, 660.00 $1,576.67
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- Sales = $1000 and costs = $500. Interest expense = $100 and depreciation = $100. The tax rate is 30%. Net income? A. $210B. $300C. $90D. $270EBIT is $12,000 and interest expense is $3,000. If the tax rate is 20%, what is the net income? $4,200 $9,400 $7,200 O $3,800Question 1:- Brodsky's Corporation had net sales of 2600000, Sales discounts 45000, cost of goods sold 1440000, Notes receivable 115000, A/R 15000, other expenses 100000, administrative expenses 206000, with drawls 47000, selling expenses 280000, and interest expense 29000, other revenues 500000 . Brodsky's tax rate is 30%. R/Prepare income statement for the year ended December 31, 2014.
- You have obtained the following information for Blue Bell Farms. The tax rate is 34 percent. Cash $ 124 Net fixed assets 2,498 Accrued expenses 135 Inventory 1,027 Long-term debt 1,876 Sales 3,850 Costs 2,220 Accounts payable 486 Depreciation 321 Interest paid 136 Accounts receivable 518 Dividends paid 281 What is the quick ratio? Group of answer choices a) 0.96 times b) 0.82 times c) 1.26 times d) 1.03 times e) 1.08 timesRon Landscaping's income statement reports net income of $76,200, which includes deductions for interest expense of $12,800 and income taxes of $36,500. Its times interest earned is: Multiple Choice 9.8 times 7.0 times 3.9 timesPop Evil, Incorporated's, net income for the most recent year was $10, 114. The tax rate was 22 percent. The firm paid $3,455 in total interest expense and deducted $2,104 in depreciation expense. What was the cash coverage ratio for the year? Multiple Choice 6.43 times 5.36 times 6.86 times 10.36 times 5.16 times
- MENT Byron Books Inc. recently reported $13 million of net income. ItsEBIT was $20.8 million, and its tax rate was 35%. What was its interest expense? (Hint:Write out the headings for an income statement, and fill in the known values. Then divide$13 million of net income by (1 2T) 5 0.65 to find the pretax income. The differencebetween EBIT and taxable income must be interest expense. Use this same procedure tocomplete similar problems.)Gorilla Movers has sales of S645,560, cost of gods sold of SsA25,890, depreciation of $32,450, and interest expense of S12,500. The tax rate is 30 percent. What is the times interest earmed ratio?For the past year, Momsen Limited had sales of $47362, interest expense of $4166, cost of goods sold of $17,359, selling and administrative expense of $12,146, and depreciation of $6,995. If the tax rate was 21 percent, what was the company's net income? Multiple Choice O $5,132 $6,496 $11,550 $4,547 $2.444
- In the quarter ended 31 March 20X2, Chas had taxable sales, net of sales tax, of $90,000 and taxable purchases, net of sales tax, of $72,000. If the rate of sales tax is 10%, how much sales tax is due? A $1,800 receivable В $2,000 receivable C $1,800 payable D $2,000 payableByron Books Inc. recently reported $13 million of net income. ItsEBIT was $20.8 million, and its tax rate was 35%. What was its interest expense? (Hint:Write out the headings for an income statement, and fill in the known values. Then divide$13 million of net income by (1 2T) 5 0.65 to find the pretax income. The differencebetween EBIT and taxable income must be interest expense. Use this same procedure tocomplete similar problems.)With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against FUTA (assume applicable) $3,100 Group of answer choices $3,100 $7,000 $3,650 $6,750