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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:

A-Changing federal income tax rates

Explanation:

The Fed controls the money supply using monetary policy tools. Monetary policy is either expansionary or contractionary. The Fed chooses which policies to apply depending on the prevailing economic conditions.

Monetary policy tools available to the Fed include reserve requirements, interest on reserves, open-market operations, discount rates, and the federal fund rate.

The Fed does not set the federal income tax rates. Taxes are part of the fiscal policy applied by the executive arm of government. The government alters taxation to achieve desired macroeconomics objectives.

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The value of the CPI in 2006 is 82.61.

<h3>What is the value of the CPI?</h3>

The consumer price index measures the changes in price of a basket of good. It is used to measure inflation. Inflation is when there is a persistent rise in the general price levels.

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(19,000 / 23,000) x 100 = 82.61

To learn more about consumer price index, please check: brainly.com/question/26382640

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What would you do if you were offered a promotion that you were not certain about accepting? What factors would you take
antiseptic1488 [7]

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There are several factors to consider when accepting a new job offer. It is necessary to analyze whether the working conditions are in accordance with your expectations and career plan.

It is important to consider the roles and responsibilities of the position that you may assume, analyzing the job's assignments will give you a margin to consider whether the job offer is in line with your profile. It is also important to analyze the remuneration and benefits package offered to the position, as this can be advantageous and will influence your choice of accepting or not the offer.

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