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ladessa [460]
2 years ago
5

Sidewinder, Inc., has sales of $634,000, costs of $328,000, depreciation expense of $73,000, interest expense of $38,000, and a

tax rate of 21 percent. What is the net income for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Business
1 answer:
Mazyrski [523]2 years ago
5 0

Answer:

$154,050

Explanation:

The computation of the net income for the firm is shown below:

Sales               $634,000

Less: costs      -$328,000

Less: depreciation -$73,000

EBIT                   -$233,000

Less: interest      -$38,000

EBT                      195,000

Less: tax(195,000 × 21%) -$40,950

Net income    $154,050

We simply deduct all expenses ,interest and taxes from the sales revenue so that the net income could come and the same is to be considered

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Merck is one of world's biggest pharmaceutical companies. It originated in Germany late in the seventeenth century with operatio
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The records of Lohse Stores included the following data: Inventory, May 1, at retail, $14,500; at cost, $10,440 Purchases during
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Answer:

$9,3

Explanation:

                             COST    RETAIL    RATIO

Inventory, May 1 $10,440        $14,500 .72

Purchases           31,550            42,900

Freight-in          2,000

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Net markups                                  3,400

Net markdowns                           (1,300)

Totals excluding beginning inventory

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Goods available $43,740          59,500

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Estimated inventory, May 31

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