1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
alexgriva [62]
3 years ago
6

For the past year, Momsen, Ltd., had sales of $46,382, interest expense of $3,854, cost of goods sold of $16,659, selling and ad

ministrative expense of $11,766, and depreciation of $6,415. If the tax rate was 35 percent, what was the company's net income?
Business
1 answer:
Ivenika [448]3 years ago
6 0

Answer:

Net income= $11,412.2

Explanation:

Giving the following information:

sales of $46,382

interest expense of $3,854

cost of goods sold of $16,659

selling and administrative expense of $11,766

depreciation of $6,415

t=0.35

We need to use the following formula:

Net income= (sales - COGS - selling and administrative expense - interest expense - depreciation) - tax + depreciation

First, we deduct Depreciation to decrease the tax base, but because it is not an actual payment, we have to sum it after tax.

Sales= 46,382

COGS= (16,659)

Gross profit= 29,723

Selling and administrative expense= (11,766)

Interest=(3,854)

Depreciation= (6,415)

EBT= 7,688

Tax= (7,688*0.35)= (2,690.8)

Depreciation= 6,415

Net income= $11,412.2

You might be interested in
Lysol sanitizing wipes entered the market at a low sales price and was supported by heavy couponing. As the initial trial period
sergij07 [2.7K]

Answer:

True

Explanation:

Penetration pricing represents a marketing strategy employed by organisations with the goal of attracting customers to new products or services. These products or services are often offered at lower prices specifically to encourage people to test them and thus bring their awareness to the market, in other words, penetrate the market.

At times penetration pricing is not only used to acquaint consumers to a product, it is also used to thin out a competitor's customer base. Specifically, low prices and as stated in the question heavy couponing are strategies that are used to attract a wide number and range of customers to a product.

Lysol  therefore, used penetration pricing  based on low sales price and heavy couponing to attract consumers to its sanitizing wipes and when a satisfactory result had been achieved, the pricing rose and the couponing reduced. However, the consumer base is already established.

3 0
3 years ago
Read 2 more answers
can anyone please subscribe my ch named Animals World with the dp of Lion on my ch. and please also like the video and subscribe
Lostsunrise [7]

Answer: ok

Explanation:

3 0
2 years ago
Read 2 more answers
Kidzo Inc., a toy car company, has several groups in its manufacturing unit dedicated to do different tasks. For example, it has
MissTica

Process departmentalization

Explanation:

Departmentalization

  • An organization has separate departments based upon the different task each performs for the organization.
  • Functional departmentalization - a manufacturing company may have a production department, sales and marketing department, an accounting department, and a human resources department.
  • Product departmentalization -  a company may have a wide range of products
  • Customer departmentalization - a company may have different customer bases
  • Geographical departmentalization - a company can hire employees to serve different customers from different geographical locations
  • Process departmentalization - a company may have employees grouped into teams for a specific process
5 0
3 years ago
you are writing a long, complex document in which you need to explain a series of events that led to a problem, evaluate several
hjlf

Answer:

Hi

Explanation:

What organizational pattern would probably be most effective for arranging the main points of a speech with the specific purpose "To inform my audience about three major ways to block junk mail from their e-mail system"? chronological order.

7 0
2 years ago
The Fashion Shoe Company operates a chain of women's shoe shops around the country. The shops carry many styles of shoes that ar
timofeeve [1]

The computation of the break-even point (in units) is given below:

Break-eventpoint = Fixed cost / contribution margin.

= Fixed cost / (selling price -  variable cost)

= $158,000/ ($20-%10)

= $158,000/ $10

= %15,800 units.

The break-even point (in units) for Shop 48 is 15,800 units. It can be computed by dividing the amount of fixed cost by the amount of per unit contribution margin. And the per unit contribution margin can be computed by deducting the variable cost per unit from the selling price per unit.

The break-even point is the point at which total costs equal total sales, and there is no loss or profit for a small business.

Learn more about the break-even point at

brainly.com/question/9212451

#SPJ4

4 0
1 year ago
Other questions:
  • The post-class assignment for this lab is to complete and submit a lab report about what impacts the period of a pendulum. altho
    15·1 answer
  • Ronald works for a small biotech firm. When the firm presents the results of its clinical trialsto the FDA, Ronald realizes that
    5·2 answers
  • Service Department Charges In divisional income statements prepared for Demopolis Company, the Payroll Department costs are char
    13·1 answer
  • A parcel delivery company delivered 103,500 packages last year, when its average employment was 86 drivers. This year the firm h
    8·1 answer
  • On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $31.8
    8·1 answer
  • Johnson & Johnson was found guilty of misrepresenting a hip-replacement device. Executives knew there was a problem with the
    10·1 answer
  • ________ is based on research that estimates how much of a product will sell over a given period of time.
    11·1 answer
  • 1. What do you understand by footprinting in ethical hacking?
    13·1 answer
  • The unadjusted trial balance for Sheffield Corp. is shown below.
    5·1 answer
  • At the beginning of the period, the Assembly Department budgeted direct labor of $60,500 and property tax of $26,000 for 5,500 h
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!