Question

THE DEF INC. has sales of $10 million. Depreciation is $1million, and tax rate is 21%....

THE DEF INC. has sales of $10 million. Depreciation is $1million, and tax rate is 21%. Interest expense is $1 million. DEF INC. pays 40% of its net income as dividend. Its Cost of goods sold is $5 million and other operating costs of $1 million. what is its addition to retained earnings?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
net box Inc. has sales of 634,000, costs of goods sold is 328,000, depreciation expense of...
net box Inc. has sales of 634,000, costs of goods sold is 328,000, depreciation expense of 73,000, administrative expense of 27,000 interest expense of 38,000 and a tax expense of 40,000 what is the earnings before tax expense for the firm? and the net income
Frye inc has sales of 625,000. Costs of goods sold of $260,000, depreciation expense of $79,000...
Frye inc has sales of 625,000. Costs of goods sold of $260,000, depreciation expense of $79,000 interest expense of $43,000 and an average tax rate of 35 percent if the firms beginning balance of retained earnings is 200,000 how much is the firms ending balance in retained earnings?
Higgins, Inc., has sales of $529,100, costs of $301,500, depreciation expense of $43,600, interest expense of...
Higgins, Inc., has sales of $529,100, costs of $301,500, depreciation expense of $43,600, interest expense of $21,700, a tax rate of 23 percent, and paid out $29,600 in cash dividends. a. What is the net income for the firm? (Do not round intermediate calculations.) b. What is the addition to retained earnings? (Do not round intermediate calculations.)
Listed below is the 2021 income statement for Tom and Sue Travels, Inc. TOM AND SUE...
Listed below is the 2021 income statement for Tom and Sue Travels, Inc. TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Net sales $ 16.200 Less: Cost of goods sold 7.300 Gross profits $ 8.900 Less: Other operating expenses 3.300 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 5.600 Less: Depreciation 2.100 Earnings before interest and taxes (EBIT) $ 3.500 Less: Interest 0.755 Earnings before taxes (EBT) $ 2.745 Less:...
(Evaluating profitability​) Last​ year, Stevens Inc. had sales of $396,000​, with a cost of goods sold...
(Evaluating profitability​) Last​ year, Stevens Inc. had sales of $396,000​, with a cost of goods sold of 115,000. The​ firm's operating expenses were $126,000​, and its increase in retained earnings was $50,000. There are currently 21,000 common stock shares outstanding and the firm pays a$1.56 dividend per share. a. Assuming the​ firm's earnings are taxed at 34 percent, construct the​ firm's income statement. b. Compute the​ firm's operating profit margin. c. What was the times interest​ earned? a. Assuming the​...
pharrell, inc., has sales of $595,000, costs of $263,000 depreciation expense of $66,000, interest expense of...
pharrell, inc., has sales of $595,000, costs of $263,000 depreciation expense of $66,000, interest expense of $33,000, and a tax rate of 30percent. The firm paid out $41,000 in cash dividends. What is the addition to retained earnings.
1.) The Berndt Corporation expects to have sales of $10 million. Costs other than depreciation are...
1.) The Berndt Corporation expects to have sales of $10 million. Costs other than depreciation are expected to be 70% of sales, and depreciation is expected to be $1.5 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. Brendt's federal-plus-state tax rate is 40%. Berndt has no debt. Set up an income statement. What is Berndt's expected net income? Enter your answer in dollars. For example, an answer...
Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses...
Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $8 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million...
Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses...
Last year, California Sushi and Such (CSS) had sales of $65 million. The firm's operating expenses amounted to $20 million and costs of goods sold totaled $15 million. In addition, CSS received $80,000 in dividend income, and paid $300,000 in dividends to its stockholders. CSS has $25 million in bonds outstanding with an annual interest payment of 9%. The firm also had $10 million in depreciation expense, and sold land for $3.5 million that had been purchased for $2.5 million...
2. Building an Income Statement Shelton, Inc., has sales of $435,000, costs of $216,000, depreciation expense...
2. Building an Income Statement Shelton, Inc., has sales of $435,000, costs of $216,000, depreciation expense of $40,000, interest expense of $21,000, and a tax rate of 35 percent. What is the net income for the firm? Suppose the company paid out $30,000 in cash dividends. What is the addition to retained earnings? 8. Cash Flow to Creditors The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $1.625 million, and the 2015 balance sheet showed long-term...