Question

Sales Revenue 177089 Other Revenue - Total Revenue 177089 Direct Costs 144944 Gross Profit 32145 Selling...

Sales Revenue

177089

Other Revenue

-

Total Revenue

177089

Direct Costs

144944

Gross Profit

32145

Selling General & Admin

24652

Depreciation & Amortization

-

Restruct Remediation & Impair

-

Other Operating Expense

483

Total Indirect Operating Costs

25135

Operating Income

7010

Interest Income

-6394

Gains on Sale of Assets

1095

Other Non-Operating Income

0

Total Non-Operating Income

-5299

Earnings Before Tax

1711

Taxation

-512

Earnings After Tax

2223

Minority Interests

280

Equity Earnings

285

Discontinued Operations

47

Extraordinary Items

0

Accounting Changes

-251

Net Income

2024

Preference Dividends & Similar

0

Net Income to Common

2024

Average Shares Basic

1846

EPS Net Basic

1.1

EPS Continuing Basic

1.21

Average Shares Diluted

2135

EPS Net Diluted

1.05

EPS Continuing Diluted

1.14

Shares Outstanding

1864.138

I KNOW THE ANSWER TO THE QUESTION I JUST WANT TO KNOW HOW IT’S SOLVED

QUESTION:

Find effective tax rate ANS: -30%

Homework Answers

Answer #1

Effective Tax rate = (Tax Expenses / Earnings Before Tax) * 100

As per the data given in the question Taxation given is -512 which means this is savings of tax.

Earnings Before Tax - Tax expense = Earnings After Tax

1711 - (-512) = Earnings After Tax

1711 + 512 = Earnings After Tax

Earnings After Tax = 2223

Therefore effective tax rate = (Tax Expenses / Earnings Before Tax) * 100

Tax Expense = -512

Earnings Before Tax = 1711

Effective tax rate = (-512 / 1711) * 100

Effective tax rate = -29.92% or -30% (rounded off)

Therefore Effective tax rate = -30%

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