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ladessa [460]
3 years ago
5

Sidewinder, Inc., has sales of $634,000, costs of $328,000, depreciation expense of $73,000, interest expense of $38,000, and a

tax rate of 21 percent. What is the net income for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Business
1 answer:
Mazyrski [523]3 years ago
5 0

Answer:

$154,050

Explanation:

The computation of the net income for the firm is shown below:

Sales               $634,000

Less: costs      -$328,000

Less: depreciation -$73,000

EBIT                   -$233,000

Less: interest      -$38,000

EBT                      195,000

Less: tax(195,000 × 21%) -$40,950

Net income    $154,050

We simply deduct all expenses ,interest and taxes from the sales revenue so that the net income could come and the same is to be considered

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Memphis Company's May sales budget calls for sales of $870,000. The store expects to begin May with $47,000 of inventory and to
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Answer:

The budgeted cost of merchandise purchases is $527,000

Explanation:

The cost of merchandise purchases for May can be computed by first of all calculating the costs of goods sold,then by deducting closing inventory from costs of good sold and adding opening inventory,just like working backwards.

Sales                                              $870,000

less margin($870,000*40%)     ($348,000)

Cost of goods sold                       $522,000

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6 0
3 years ago
Read 2 more answers
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