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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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One perspective describes ________ as an integrative management field that combines analysis, formulation, and implementation in
VikaD [51]

Answer: strategic management

Explanation:

Strategic management is integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage.

Strategic management simply had to do with the evaluation of business goals, vision of an organisation and objectives. For organizational goals to be achieved, effective strategies must be put in place.

6 0
2 years ago
The Buck Store is considering a project that will require additional inventory of $216,000 and will increase accounts payable by
Anestetic [448]

Answer:

$607,250 outflow

Explanation:

Net Working Capital is the amount of money needed to maintain operations on a day to day basis.

Net Working Capital = Current Assets - Current Liabilities

where,

<u>Current Assets are calculated as :</u>

Inventory                                                        $216,000

Accounts Receivable ($525,000 x 1.09)   $575,250

Total                                                                $788,250

and

Current Liabilities = $181,000

therefore,

Net Working Capital = $788,250 - $181,000 = $607,250

Conclusion

The project's initial cash flow for net working capital is $607,250 outflow.

5 0
2 years ago
Suppose Turkey has exports of 2 billion Turkish​ Lira, while its imports are 2 billion Turkish Lira. Calculate​ Turkey's "Index
Damm [24]

Answer:

40%

Explanation:

The index of openness measures how much a country is exposed to international trade. It is calculated by this formula:

Index of Openness= (Exports(X)+Imports (M))/GDP

Index of Openness= (2 billion+2 billion )/10 billion

Index of Openness= 0,4*100=40%

5 0
3 years ago
Question 10 plagiarism is committed when a writer takes _____ from another source (internet, textbook, another student's work) a
iris [78.8K]
Another student’s work
4 0
3 years ago
Read 2 more answers
ABC Corporation has declared a rights offering to stockholders of record on Friday, December 10th. Under the offer, shareholders
VashaNatasha [74]

Answer:

The value of a right is $1

Explanation:

10 rights are needed to buy 1 share at the price of $19

Value of total rights = $29 - $19 =$10

Value of a right = \frac{10}{10} = $1

4 0
3 years ago
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