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Tems11 [23]
3 years ago
12

In 2019, Whispering Winds Corp. had net sales of $973,000 and cost of goods sold of $570,900. Operating expenses were $220,300,

and interest expense was $14,600. Whispering Winds prepares a multiple-step income statement. Compute Whispering Winds gross profit.
Business
1 answer:
tester [92]3 years ago
7 0

Answer:

Whispering Winds Gross profit is $402,100

Explanation:

Multi step income statement differentiate the the operating revenue and expenses from non operating revenue and expenses. It shows the gross profit, operating profit and net profit separately.

     Whispering Winds Corp.

 Income statement for the year 2019

Net sales                               $973,000

Less: Cost of goods sold     <u>$570,900</u>

Gross Profit                                            $402,100

Less:Operating expenses                     <u>$220,300</u>

Operating Profit                                     $181,800

Less: Interest expense                          <u>$14,600  </u>

Profit before Tax                                    $167,200

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Answer: Option (B)

Explanation:

A partnership is referred to as or known as an arrangement where organizations, parties, business partners, tend to agree to cooperate with each other in order to advance the mutual interests they have. These partners that are in partnership may tend to be businesses, individuals, organizations, governments. Organizations tend to partner in order to increase their likelihood of achieving the mission and also amplify reach.

4 0
3 years ago
You are thinking about a project to expand your business. In order to start the project, you have to invest $200,000 in new equi
svetlana [45]

Answer:

The initial outlay of this project is $270,000

Explanation:

According to the given data we have the following:

cost of new machine= $200,000

shipping cost=$5,000

installation cost=$15,000

working capital=$50,000

Therefore, in order to calculate the initial outlay of this project we would have to make the following calculation:

initial outlay of this project=cost of new machine+shipping cost+installation cost+working capital

initial outlay of this project= $200,000+$5,000+$15,000+$50,000

initial outlay of this project= $270,000

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4 years ago
Five firms are currently producing and selling in a market. When two more firms enter the market, economists expect that the equ
Vilka [71]

Answer:

Decrease, Increase

Explanation:

Equilibrium price is that price in the market, where the quantity of the goods supplied or the service offered is equal to the quantity of the goods demanded. At this point the supply as well as the demand curves in the market intersect.

So, when 2 firms will be entering the market, the economist expect that the equilibrium price will decrease or fall and fall in the price leads to increase in the quantity, so the equilibrium quantity will increase.

7 0
3 years ago
The following information pertains to Marsh Company. Assume that all balance sheet amounts represent average balance figures.Tot
andre [41]

Answer:

b) 20%

Explanation:

Stockholder's equity  

Net Income $ 25,000

Common Dividends -$ 5,000

Preferred Dividends -$ 6,000

TOTAL $ 14,000

Common Dividends

-$ 5.000 / $ 25.000  = 20%

Net Income

Dividend per share $0,63 / (Earning per Share) $3,13 =  20%  

Dividend per share $0,63  ==> Common Div. ($5,000) / 8.000 (Q. Common)

Earning per share $3,13  ==> Net Income ($25,000) / 8.000 (Q. Common)

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4 years ago
The Cowboy Saddle Company manufactures plastic saddles that are used in the assembly process of their Mr. Ed doll. The firm desi
S_A_V [24]

Answer:

time between orders 25 working days

yearly ordering cost: $150

Explanation:

The annual demand is 4,000 units if order size is 400 units there will be 10 orders per year

Given a year of 50 weeks: every 5 weeks an order will be placed.

As each week has 5 working days that would mean every 25 working days

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each order cost $15 to place as there are 10 order per year it will be $150 ordering cost.

7 0
3 years ago
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