historically, inequities in the amount of money avaliable to local school districts in texas have been the result of
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Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The calculation is shown below:
= Net Sales + interest revenue- cost of good sold - administrative expense - selling expenses - interest expense - income tax expense
where,
Income tax expense = (Net Sales + interest revenue- cost of good sold - administrative expense - selling expenses - interest expense) × income tax rate
= ($2,409,400 + $38,100 - $1,463,800 - $222,000 - $286,700 - $48,900) × 30%
= $426,100 × 30%
= $127,830
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Answer: $7.50
Explanation:
Given that,
Total value = $950 million
Accounts payable = $100 million
Notes payable = $100 million
Long-term debt = $200 million
common equity = $200 million
shares of common stock = 100 million
Value of equity = Value of firm - Value of preferred stock - Value of long term debt.
= $950 million - 0 - $200 million
= $750 million
= $7.50