Question

LSP recently reported $400,000 of sales during the year 2016. The company had $40,000 of outstanding...

LSP recently reported $400,000 of sales during the year 2016. The company had $40,000 of outstanding bonds carrying 10% interest rate.Operating costs were $160,000 other than depreciation, and the firm was facing $24,000 as depreciation. Noting that the federal-plus-state income tax rate was 40%. What is the firm's net income at the end of the year 2016? *
$ 107,200
$ 190,800
$ 127,200
$ 0

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Brown Office Supplies recently reported $16,000 of sales, $8,250 of operating costs other than depreciation, and...
Brown Office Supplies recently reported $16,000 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depreciation. It had $9,000 of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate was 40%. How much was the firm's earnings before taxes (EBT)? a. $6,551 b. $5,370 c. $6,122 d. $4,994 e. $6,444
Emery Mining Inc. recently reported $147,500 of sales, $75,500 of operating costs other than depreciation, and...
Emery Mining Inc. recently reported $147,500 of sales, $75,500 of operating costs other than depreciation, and $10,200 of depreciation. The company had $16,500 of outstanding bonds that carry a 7.25% interest rate, and its federal-plus-state income tax rate was 25%. How much was the firm's net income? The firm uses the same depreciation expense for tax and stockholder reporting purposes. (Round your intermediate and final answers to two decimal places.)
Rocket Inc. recently reported $210,000 of sales, $145,500 of operating costs other than depreciation, and $20,200...
Rocket Inc. recently reported $210,000 of sales, $145,500 of operating costs other than depreciation, and $20,200 of depreciation. The company had $34,500 of outstanding bonds that carry a 6. 5% interest rate, and its federal-plus-state income tax rate was 25%. Number of shares outstanding is 5,000. How much was the firm's net income? The firm uses the same depreciation expense for tax and stockholder reporting purposes. (Round your intermediate and final answers to two decimal places.) If the company’s retention...
Meric Mining Inc. recently reported $19,750 of sales, $7,500 of operating costs other than depreciation, and...
Meric Mining Inc. recently reported $19,750 of sales, $7,500 of operating costs other than depreciation, and $1,200 of depreciation. The company had no amortization charges, it had outstanding $6,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 35%. How much was the firm's net income after taxes? Meric uses the same depreciation expense for tax and stockholder reporting purposes. Select the correct answer. a. $6,931.64 b. $6,938.24 c. $6,925.04 d. $6,918.44 e. $6,911.84
AT&T recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and...
AT&T recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and $1,100 of depreciation. The company had $3,200 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. By how much...
Houston Pumps recently reported $222,500 of sales, $140,500 of operating costs other than depreciation, and $9,250...
Houston Pumps recently reported $222,500 of sales, $140,500 of operating costs other than depreciation, and $9,250 of depreciation. The company had $35,250 of outstanding bonds that carry a 6.75% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to spend $15,250 to buy new fixed assets and to invest $6,850 in net operating working capital. What was the firm's free cash...
1. Pepsi recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation,...
1. Pepsi recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and $1,100 of depreciation. The company had $3,200 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. By how...
Duke Inc. recently reported $13,750 of sales, $5,500 of operating costs other than depreciation, and $1,250...
Duke Inc. recently reported $13,750 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreciations. The company had $3,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 35%. during the year, the firm had expenditure on fixed assets and increase in net operating working capital that totaled $1,550,which support the firm's operations and future growth. What was its free cash flow? A) 4,250 B) 4,350 C) 4,400 D) 4,450
Bartling Energy Systems recently reported $9,250 of sales, $5,750 of operating costs other than depreciation, and...
Bartling Energy Systems recently reported $9,250 of sales, $5,750 of operating costs other than depreciation, and $800 of depreciation. The company had no amortization charges, it had $3,200 of outstanding bonds that carry a 6% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate sales and cash flows in the future, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in...
Bartling Energy Systems recently reported $9,250 of sales, $5,750 of operating costs other than depreciation, and...
Bartling Energy Systems recently reported $9,250 of sales, $5,750 of operating costs other than depreciation, and $700 of depreciation. The company had no amortization charges, it had $3,200 of outstanding bonds that carry a 6% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate sales and cash flows in the future, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT