Question

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

Answer #1

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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 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 $1.12 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 $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...

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, 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?

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 fiscal year 2019, Magic Kingdom had sales of $2 million.
Its cost of goods sold, selling and general administrative
expenses, and depreciation were $1.2 million, $.5 million and $.9
million, respectively. Its 7% semiannual coupon bonds will mature
in 10 years, and there is no other debt. The tax rate is 21%, and
tax losses cannot be carried forward or back. What is the operating
cash flow for Magic Kingdom in fiscal year 2019?

Net Income and OCT
During 2015, rainbow umbrella corp. had sales of$590,000 cost
of goods sold, administrative and selling expenses and depreciation
expenses were $455,000, $85,000 and $125,000, respectively. In
addition, the company had an interest expense of $65,000 and a tax
rate of 35% (ignore any tax loss carry back or carry forward
provisions)
A. What is the company’s net income for 2015?
B. What is it’s operating cash flow?
C. Explain your result in (a) and (b)

During the year, Belyk Paving Co. had sales of $2,275,000. Cost
of goods sold, administrative and selling expenses, and
depreciation expense were $1,285,000, $535,000, and $420,000,
respectively. In addition, the company had an interest expense of
$245,000 and a tax rate of 21 percent. (Ignore any tax loss
carryforward provision and assume interest expense is fully
deductible.) A. What is Belyk Paving Company’s net income? B. What
is Belyk Paving Company’s operating cash flow? C. Determine Belyk
Paving Company’s Cash...

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