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oee [108]
3 years ago
8

Consider the following year-end information for a company: Cost of goods sold $ 420,000 Sales revenue 800,000 Non Operating expe

nses 10,000 Operating expenses 170,000 Income tax expense 80,000 What amount will the company report for operating income
Business
1 answer:
Bad White [126]3 years ago
4 0

Answer:

$210,000.

Explanation:

Given:

Cost of goods sold = $420,000

Sales revenue = $800,000

Operating expenses = $170,000

Question asked:

What amount will the company report for operating income ?

Solution:

As we know, Operating Income = Gross Profit- Operating Expenses

First of all we will find gross profit,

Gross Profit = Net Sales – Cost of goods sold

                    = $800,000 -  $420,000

                    = $380,000

Now, Operating Income = Gross Profit- Operating Expenses

                                        = $380,000 -  $170,000

                                        = $210,000

Therefore, consider the following year-end information for a company, its Operating Income is  $210,000.

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3 0
2 years ago
When may an item attached to a structure be considered personal property rather than real property?
GaryK [48]

An item of personal property that has been converted to real property. Even though it is attached to a structure, an item may be considered personal property rather than real property if: A. the owner originally intended to remove it after a period of time.

Any movable thing or intangible object of value that is able to being owned through someone and now not identified as actual belongings. personal belongings may be characterized as either tangible or intangible. Examples of exact non-public assets consist of motors, furnishings, boats, and collectibles. stocks, bonds, and financial institution bills fall underneath intangible personal belongings.

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8 0
2 years ago
Suppose Rocky Brands has earnings per share of ​$2.33 and EBITDA of ​$29.3 million. The firm also has 5.3 million shares outstan
posledela

Answer:

enterprise value to EBITDA.

Explanation:

The computation of the value of the stock using P/E ratio is shown below:-

Stock value = (P/E ratio × EPS) × Number of shares outstanding

= (12.9 × $2.33) × 5.3 million

= 159.3021 million

Now, the computation of the value of the stock using EBITDA multiple is shown below:-

Stock value = (EBITDA multiple × EBITDA) - Net debt

= (7.1 × $29.3 million) - $125 million

= 208.03 - $125 million

= 83.03

There is no equivalent corporate debt. It is easier to make a comparison at the operating level and thus a better measure of valuation is the enterprise value to EBITDA.

3 0
3 years ago
Mofro's Computer Repair Shop started the year with total assets of $270,000 and total liabilities of $180,000. During the year,
JulsSmile [24]

Answer:

$200,000

Explanation:

As we know that

The net income is the income that is generated when we deduct all expenses incurred from all revenues generated that is reflected on the income statement  

In mathematically,  

Net income = Revenues earned - expenses incurred

                   = $450,000 - $250,000

                   = $200,000

3 0
3 years ago
The earned income credit: a.Must be calculated on earned income as well as adjusted gross income in some cases. b.Cannot exceed
k0ka [10]

Answer:

The correct answer is letter "A": Must be calculated on earned income as well as adjusted gross income in some cases.

Explanation:

The Earned Income Credit is a refund the government issues to taxpayers in case their earned income or Adjusted Gross Income (AGI) is lower than the amount of taxes they need to pay. The maximum earned income to qualify for an earned income credit also depends on the number of children in the household, and if the file return is submitted jointly.

3 0
3 years ago
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