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emmainna [20.7K]
3 years ago
10

INCOME STATEMENT Byron Books Inc. recently reported $13 million of net income. Its EBIT was $20.8 million, and its tax rate was

35%. What was its interest expense?
Business
1 answer:
Nataly [62]3 years ago
3 0

Answer:

Interest Expense: $0.8 million

Explanation:

First we calculate earning before tax as follows:

Earning before tax = Net income / (1 - tax rate)

Earning before tax = 13 / 0.65

Earning before tax (EBT) = $20 million

Now we calculate interest charge as different between EBIT & EBT

Interest charge = 20.8 - 20

Interest charge = $0.8 million

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Answer:

(It is assume that completed unit have been transferred to next department)

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6 0
3 years ago
Read 2 more answers
Ben and Mildred's Stables used two different independent variables (trainer hours and number of? horses) in two different equati
liubo4ka [24]

Answer:

the estimated total cost for the coming year is $12,227.60

Explanation:

The computation of the estimated total cost is shown below:

y

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= $5,240.20 + $6,987.40

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This is the answer but not the same is to be given in the options

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7 0
3 years ago
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8 0
2 years ago
Productivity is difficult to measure because precise units of measure are available, quality is consistent, and exogenous variab
podryga [215]

Answer:

False

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