Question

During the year, the Senbet Discount Tire Company had gross sales of $546,400. The company's cost...

During the year, the Senbet Discount Tire Company had gross sales of $546,400. The company's cost of goods sold and selling expenses were $182,900 and $106,700, respectively. The company also had debt of $489,000, which carried an interest rate of 8 percent. Depreciation was $63,600. The tax rate was 24 percent.
a. What was the company's net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b. What was the company’s operating cash flow? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Business   Finance   
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
During the year, the Senbet Discount Tire Company had gross sales of $547,900. The company's cost...
During the year, the Senbet Discount Tire Company had gross sales of $547,900. The company's cost of goods sold and selling expenses were $183,800 and $107,200, respectively. The company also had debt of $490,000, which carried an interest rate of 6 percent. Depreciation was $63,900. The tax rate was 25 percent. a.    What was the company's net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What was the company’s operating...
During the year, the Senbet Discount Tire Company had gross sales of $1.12 million. The company's...
During the year, the Senbet Discount Tire Company had gross sales of $1.12 million. The company's cost of goods sold and selling expenses were $531,000 and $221,000, respectively. The company also had debt of $860,000, which carried an interest rate of 6 percent. Depreciation was $136,000. The tax rate was 40 percent. a. What was the company's net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the...
During the year, the Senbet Discount Tire Company had gross sales of $1.11 million. The company’s...
During the year, the Senbet Discount Tire Company had gross sales of $1.11 million. The company’s cost of goods sold and selling expenses were $580,000 and $233,000, respectively. The company also had notes payable of $720,000. These notes carried an interest rate of 4 percent. Depreciation was $110,000. The tax rate was 25 percent. a. What was the company’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to the nearest whole...
During the year, the Senbet Discount Tire Company had gross sales of $1.24 million. The company’s...
During the year, the Senbet Discount Tire Company had gross sales of $1.24 million. The company’s cost of goods sold and selling expenses were $593,000 and $246,000, respectively. The company also had notes payable of $850,000. These notes carried an interest rate of 5 percent. Depreciation was $123,000. The tax rate was 23 percent. a. What was the company’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to the nearest whole...
During the year, the Senbet Discount Tire Company had gross sales of $1.21 million. The company’s...
During the year, the Senbet Discount Tire Company had gross sales of $1.21 million. The company’s cost of goods sold and selling expenses were $590,000 and $243,000, respectively. The company also had notes payable of $820,000. These notes carried an interest rate of 6 percent. Depreciation was $120,000. The tax rate was 25 percent. a. What was the company’s net income? b. What was the company’s operating cash flow
During the year, the Senbet Discount Tire Company has gross sales of $1.3million. The firm’s cost...
During the year, the Senbet Discount Tire Company has gross sales of $1.3million. The firm’s cost of goods sold and the selling expenses were $450,000 and $225,000, respectively. Senbet also has interest expenses of $150,000. Depreciation was $110,000. Senbet’s tax rate was 35 percent. The company has a total equity of $2 million. a. What was Senbet’s net income? (8 points) b. What was Senbet’s operating cash flow? (3 points) c. If the company paid out $100,000 as dividends, what...
During the year, Johnson tire company had gross sales of $1.12 million. The companys cost of...
During the year, Johnson tire company had gross sales of $1.12 million. The companys cost of goods sold and selling expenses were $581,000 and $234,000, respectively. The company also had notes payable of $730,000. The notes carried and interest rate of 5%. Depreciation was $111,000. The tax rate was 21 percent. What was the Company's net income? What was the Company's operating cash flow?
For the most recent year, Seether, Inc., had sales of $451,000, cost of goods sold of...
For the most recent year, Seether, Inc., had sales of $451,000, cost of goods sold of $218,000, depreciation expense of $57,700, and additions to retained earnings of $49,900. The firm currently has 36,000 shares of common stock outstanding, and the previous year’s dividends per share were $1.30. The income tax rate is 35 percent. What was the EBIT? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) EBIT            $ How much in total...
During the year, Belyk Paving Co. had sales of $2,290,000. Cost of goods sold, administrative and...
During the year, Belyk Paving Co. had sales of $2,290,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,290,000, $545,000, and $423,000, respectively. In addition, the company had an interest expense of $248,000 and a tax rate of 21 percent. The company paid out $373,000 in cash dividends. Assume that net capital spending was zero, no new investments were made in net working capital, and no new stock was issued during the year. (Ignore any tax...
Consider the following cash flows: Year Cash Flow 0 –$ 34,000   1 15,100   2 16,600   3...
Consider the following cash flows: Year Cash Flow 0 –$ 34,000   1 15,100   2 16,600   3 12,500   a. What is the NPV at a discount rate of zero percent? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the NPV at a discount rate of 8 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the NPV at a discount...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT