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Blizzard [7]
3 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]3 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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The farm always comes_______. This is something many feel the general public does not understand unless they came from a farm.
joja [24]

Answer:

First

Explanation:

something many people dont understand is a farm is a business and it always comes first. hope this helps

3 0
3 years ago
You saved $500 in currency in your piggy bank to purchase a new laptop. the $500 you kept in your piggy bank illustrates money's
marishachu [46]

Answer:

Store of value.

Unit of account.

Medium of exchange.

Explanation:

Store of value is an asset that can be restored and then traded with other things. When the assest is redeemed it is expected to be of great value. Also a store of value is anything that holds purchasing power in the future.

Unit of account is one of the primary functions of money. Also defined as the unit by which value of a thing is accounted and compared.

Medium of exchange occurs when there is any transaction between buyers and sellers.

5 0
3 years ago
Assume the process of obtaining a​ driver's license is considered too long because of too few people who can administer the fina
vfiekz [6]

Answer:

Process resources.

Explanation:

Assume the process of obtaining a​ driver's license is considered too long because of too few people who can administer the final driving test. One way to resolve this problem is to hire more people who can give the driving test. This is an example of a change in <u>process resources.</u>

Process resouces: It is a management strategy to resolve operational issue and get smooth work flow in the process by hiring more resources to reduce waiting time and deliver the services as per expectation and on the time. It show the operational efficiency of process.

In the given case, hiring more people to adminster driving test will help in reducing the waiting time of customer and deliver services as per expectation.

8 0
3 years ago
Consider an investment opportunity set formed with two securities that are perfectly negatively correlated. The global minimum-v
Marta_Voda [28]

Answer:

equal 0.

Explanation:

If both stocks are perfectly negatively correlated, then the standard deviation will always be 0. For example, if the variance of stock A is -0.5, then the variance of stock B will be 0.5, so the standard deviation will be 0. The variance of each stock will cancel the variance of the other one.

5 0
4 years ago
Borden Inc. offers pasta snacks grocery and dairy items as well as films adhesives another nonfood products these products are r
Oksana_A [137]
<span>product mix
 Product mix, also known as product assortment, is the total number of product lines that a company offers to its customers. The product lines may range from one to many, and the company may have many products under the same product line as well.</span>
7 0
3 years ago
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