Income Taxes Using appropriate headings and subtotals prepare a multiple-step consolidated income statement.
An Income tax is a tax imposed on people or entities in admire of the income or profits earned by way of them. income tax generally is computed because the manufactured from a tax price instances the taxable earnings. Taxation fees can also vary by using the kind or characteristics of the taxpayer and the type of profits.
Consolidated Income statement
Particulars Amount
Net Sales $ 5,864. 6
Less: Expenses
Cost of Products sold = $ 3,6594.4
Gross Profit = $2,205.2
Less: Operating expenses
Selling general, and administrative expenses $ 1,515.3
Other expenses $ 432.7
Operating Income = $ 275
Less: Non-operating expenses
Interest and other non-operating expenses $ 104.7
Income before Taxes = 152.5
Less: Income Tax expense $ 17.9
Income after Taxes = $134.6
Less: Loss on sale of Discontinued Operations
(net of income taxes) $9.4
Net Income $ 125.2
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Answer:
a.Operating Cycle = Inventory Conversion period + Days Sales Outstanding = 100 + 35 = 135 Days
Cash Conversion Cycle = Inventory Conversion period + Days Sales Outstanding - Days Payables Outstanding
= 100 + 35 - 11 = 124 Days
b.If Carraway were to decide to take full advantage of its credit terms and delay payment until the last possible date , their cash conversion cycle is 100 + 35 - 51 = 84 Days
c.Carraway should take its suppliers offer to finance its inventory with the interest free 35 Day loan
Answer:
B. False
Explanation:
In a sealed bidding, bidders have no opportunity to discuss/negotiate. They just present an offer adjusted to the terms of the requirer of the good or service that is submitted to bidding.
Answer:
current intrinsic value per stock = $26.35
Explanation:
year dividend EPS
0 0 $18
1 0 $20.88
2 0 $24.22
3 0 $28.10
4 0 $32.59
5 0 $37.81
6 $12.59 $41.97
growth rate up to year 5 = 16%
ROE growth rate starting year 6 = 11%
dividend growth rate starting year 6 = 11% x (1 - 30%) = 7.7%
cost of equity = 24%
horizon value at year 5 = $12.59 / (24% - 7.7%) = $77.24
current intrinsic value per stock = $77.24 / 1.24%⁵ = $26.35
Answer:
True
Explanation:
Financial services are the activities rendered by any financial institution such as the banks to their customers. Most of the services are done at a fee that makes the main source of revenue for banks. The revenue is spent to pay the overall expenses of the bank. If the expenses are lower than the revenue, a bank makes profit. If expenses exceed revenue, a bank makes loss which is not mostly the case. Therefore, it is true to say that banks work to earn a profit by selling financial services.
