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Blizzard [7]
2 years ago
12

The Fitness Studio, Inc.’s 2018 income statement lists the following income and expenses: EBIT = $538,000, interest expense = $6

3,000, and net income = $435,000. Calculate the 2018 taxes reported on the income statement. (Enter your answer in dollars. Round your answer to the nearest dollar amount.)
Business
1 answer:
Morgarella [4.7K]2 years ago
8 0

Answer:

$40,000

Explanation:

Given that,

EBIT = $538,000

Interest expense = $63,000

Net income = $435,000

EBT = EBIT - Interest expense

       = $538,000 - $63,000

       = $475,000

Tax reported in Income statement:

= EBT - Net income

= $475,000 - $435,000

= $40,000

Therefore, the 2018 taxes reported on the income statement is $40,000.

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When completing an enrollment application in LEAN, why is an agent prohibited from entering their own email address in a field a
Nikitich [7]

Answer:

This is because of the ethics guiding the body. For example, ethically, it is wrong for the agent to put his email address in the application in LEAN where it should have been the customer's own. <em>There is a possibility of the identity theft or fraud being committed when such happens.</em>

Explanation:

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2 years ago
When launching any technology product, a firm such as GoPro must create a balance between what is technically possible and wheth
guapka [62]

Answer:

Whether the technology provides benefits and responds to customers needs

Explanation:

Technological innovation can be defined as the introduction of new technical products and services or improving an existing ones.

One major reason for this is to address human needs and better serve individual . Therefore whenever any firm wants to launch any new product , it is important that it must create a balance between what is technically possible and whether the new technology provides benefits and responds to customers needs.

3 0
2 years ago
With the _____ approach, an organization chooses an outsourcing company in a neighboring country, such as when a U.S. organizati
jeka57 [31]

Answer:

a. nearshore outsourcing

Explanation:

Nearshore outsourcing is a business practice related to transferring certain activities and services to people and organizations in neighboring countries.

Since Canada and Mexico are neighboring countries of the US, this is nearshore outsourcing. On the other hand, offshore outsourcing is a type of outsourcing that transfers the activities on to farther countries. In this example, offshore countries would be India or Ukraine.

5 0
2 years ago
Lorie Nursery plans to sell 320 potted plants during April and 240 units in May. Lorie Nursery keeps 15% of the next month's sal
Dmitry [639]

Answer:

Lorie Nursery should produce during April 308 units

Explanation:

According to the given data, In order to calculate how many units should Lorie Nursery produce during April we would have to use the followinf formula:

Required Production = Expected Sales + Desired Closing Invenory - Opening Inventory

Required Production = 320 + 240 * 15 % - 320 * 15 %

=320 + 36 - 48 = 308 units

Lorie Nursery should produce during April 308 units

8 0
2 years ago
Read 2 more answers
Photo Framing's cost formula for its supplies cost is $1,080 per month plus $18 per frame. For the month of November, the compan
Effectus [21]

Answer:

$526 was the spending variance in November

Explanation:

The spending variance in the month involves knowing the difference between actual supplies cost incurred in the month and the budgeted supplies cost based on actual activity

Budgeted supplies cost based on actual activity of 608 frames=$1080+(608*$18)

Budgeted supplies cost based on actual activity of 608 frames=$1080+$10,944=$12,024

Spending variance=$12,550-$12.024 =$526

The actual spend was $526 more than the budgeted spend based on actual activity,hence an unfavorable variance was recorded

6 0
2 years ago
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