Answer:
The variable expense is 36% of monthly expense i.e $2,016.
Explanation:
Data provided in the question:
Monthly income of Mr. Jones = $5,600
Fixed expenses = $2,912
Net income = 12% of monthly income = 0.12 × $5,600 = $672
Now,
Variable expense = Monthly income - Fixed expenses - Net income
= $5,600 - $2,912 - $672
= $2,016
Percent of variable expense =
Hence, the variable expense is 36% of monthly expense i.e $2,016.
Answer:
$ 19,740
Explanation:
Retained earnings are calculated by subtracting dividends distributed from the net income. Retained earnings are the business profits kept by a business as opposed to being distributed to shareholders.
A company's net income = retained earnings plus dividends paid.
For Parker dividends declared were: $ 4,860
Retained earnings will be:
Closing retained earnings= opening retained earning + income - dividends
$401,460 =$386,400+income -$4 680
$401,460 =386,400-4680 +income
$401,460=381,720 +income
income= $401,460 -$381,720
=$19,740
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Your question should be complete with details. I managed to check from other sources the details and the complete question:
below is the solution:
<span>$175,000 - $110,000 DL = $65,000</span>
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