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irakobra [83]
3 years ago
6

Butterfly tractors had $14 million in sales last year. cost of goods sold was $8.00 million, depreciation expense was $2 million

, interest payment on outstanding debt was $1 million, and the firm's tax rate was 35%.
a. what was the firm's net income?
Business
1 answer:
Kruka [31]3 years ago
8 0
The net income is $1.95 million, this is how we calculate this;
Sales last year is $14 million
Goods sold cost = $8 million
Depreciation expense = $2 million and debt is $1 million.
So the amount left = $14 million - ($8million + $2 million + $1 million ) = 14 - 11 = 3 million
tax rate is 35 %, so 35% of 3 million = 0.35 x 3 = $1.05 million
Net income = $3 million - $1.05 million = $1.95 million
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Setler79 [48]
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Home loan only have about 4 -5 % interest rate. Compared to other options :

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2 years ago
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Rhonda, a general manager, makes a decision on behalf of the business that leads to some personal financial gains, while the com
noname [10]

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Conflict of interest .

Explanation:

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8 0
2 years ago
Which of the following institutions makes up the largest part of the Federal Reserve System organization
vlada-n [284]

The Correct answer choice for question 1 is : <u>Federal Reserve Banks</u>

<h3>What is Federal Reserve Banks?</h3>

While the Board of Governors is a sovereign government agency, the Federal Reserve Banks are set up like private companies. Member banks hold stock in the Federal Reserve Banks and earn profits. The Federal Reserve's interest is determined principally from the interest on U.S. government securities that it has received through open market operations.

                                                   AND

The Correct answer choice for question 2 is : <u>Buy government securities</u>

<h3>What is Recession?</h3>

A recession is a business cycle recession which occurs in a general slowdown in financial activity. Macroeconomic indicators such as GDP, finance spending, capacity utilization, household income, business profits, and inflation fall, while failures and the unemployment rate rise.

Therefore, we can conclude that the correct option of 1 is (B) and 2 is (A).

Your question is incomplete, but most probably your full question was:

1. Which of the following institutions makes up the largest part of the Federal Reserve System organization?

A. Board of Governors

B. Federal Free Market Committee

C. Federal Reserve Banks

D. Member banks and other depository institutions

2. If the United States falls into a recession, which action would the Federal Reserve take to encourage employment?

A. Buy government securities

B. Increase reserve requirements

C. Raise federal funds and prime rates

D. Sell government securities

Learn more about Federal Reserve System on:

brainly.com/question/999538

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7 0
2 years ago
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pickupchik [31]

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the answer is equity.

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The command economy tries to overcome this problem of Equity in market economies.

4 0
3 years ago
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