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kotegsom [21]
2 years ago
10

Sidewinder, Inc., has sales of $686,723, costs of $335,000, depreciation expense of $80,000, interest expense of $45,000, and a

tax rate of 22 percent. The firm paid out $81,093 in cash dividends. What is the addition to retained earnings
Business
1 answer:
algol132 years ago
8 0

Answer:

The addition to retained earnings is $95,751.

Explanation:

Addition to the retained earning is the net value of net earning of the year and dividend payment.

Net income

Sales                                                $686,723

Costs                                               (<u>$335,000)</u>

Gross income                                  $351,723

Depreciation Expense                   <u>($80,000)</u>

Income before interest and tax     $271,723

Interest Expense                            <u>($45,000)</u>

Income before tax                           $226,723

Tax 22%                                          <u>($49,879)</u>

Net Income                                      <u>$176,844</u>

Addition to Retained Earning = Net Income - Dividend Payment

Addition to Retained Earning = $176,844 - $81,093

Addition to Retained Earning = $95,751

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How much must be deposited at the beginning of each year to accumulate to $25,000 in two years if interest is at 9%?
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Answer:

$10,974.05

Explanation:

Given that,

Amount to accumulated = $25,000 in two years

Interest rate = 9%

Let the amount be X,

Total amount after two years:

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= X(1.09)^2 + X(1.09)

= 1.1881 X + 1.09X

= 2.2781 X

SO,  Total amount after two years:

2.2781 X = 25,000

X = 25,000 ÷ 2.2781

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Hence, the amount deposited at the beginning of each year is $10,974.

7 0
3 years ago
Required information Skip to question [The following information applies to the questions displayed below.] The December 31, 202
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Answer and Explanation:

The preparation of the income statement is presented below:

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3 years ago
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There were a total of 90 people in the households, 10 of the people were children under 16, 10 of the people were retired but st
Vlad1618 [11]

Answer:

The unemployment rate is 42.85.

Explanation:

The formula to calculate the unemployment rate is:

Unemployment Rate = (Unemployed People / Total Labor) x 100 -- (1)

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3 years ago
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