The Net Income for the quarter is give as: $90,850. See the attached for more explanation.
<h3>What is an Income Statement?</h3>
An income statement summarizes a company's sales, costs, and profitability over time. It is sometimes referred to as a profit-and-loss (P&L) or earnings statement.
It displays your revenue from the sale of goods or services expenditures to produce income and run your company
It is important to note that when there is a short fall between expense and income, it is referred to as Net Loss. The net financial position is derived by removing the sum of all expenses from the sum of all income streams.
The three main parts of an income statement is:
- Revenue
- Expenses; and
- Profit.
Learn more about Net Income:
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Explanation:
Yes , it´s not like she went on a bathroom break she still doing something in the kitchen.
Answer:
The correct answer is letter "C": General Agreement on Tariffs and Trade (GATT).
Explanation:
The General Agreement on Tariffs and Trade (<em>GATT</em>) is a treaty effective from 1948 that pursues fairness when it comes to international trade by reducing tariffs and that promotes equal treatment among countries. The GATT was replaced by the World Trade Organization (<em>WTO</em>) in 1995 under the same objectives but with more participation of the member nations.
Answer:
Robin Corporation has a basis of $300,000 in the land.
Explanation:
Options are <em>"a. Erica does not recognize gain. b. Erica recognizes gain of $400,000. c. Robin Corporation has a basis of $100,000 in the land. d. Robin Corporation has a basis of $300,000 in the land. e. None of the above."</em>
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Erica has a recognized gain of $200,000 which is the amount made payable to her through her receipt of the securities in Robin Corporation. The basis of the land to Robin would be equals to the basis Erica has in the land, $100,000 plus gain recognized by Erica $200,000 or $300,000.
Solution :
Given :
The bonds offer a 
of 4.5% per year
Tax rate = 10% = 0.10
Inflation rate = 2
= + 
= 2 + 4.5
= 6.5
= 
= 
= 5.85
After tax real interest rate = 
-
= 5.85 - 2.0
= 3.85
= 7.0
= +
= 7 + 4.5
= 11.5
= 
= 10.35
= 11.5 x (1 - 0.10)
= 11.5 x 0.90
= 10.35
= -
= 10.35 - 7.0
= 3.35
Putting all the value in table :
Real interest Nominal interest After tax nominal After tax
rate rate interest rate interest rate
2.0 4.5 6.5 5.85 3.85
7.0 4.5 11.5 10.35 3.35
Comparing with the 
, a 
will increase the after after tax real interest rate when the government taxes nominal interest income. This tends to encourage saving, thereby increase the quantity of investment in the economy and the increase the economy's long-run growth rate.
