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Anna007 [38]
3 years ago
14

Alejandro Alvera of Alvear Corp was reading the financial statements of Olivas Medical Supply Company to decide whether he wante

d to try to acquire the company. He noticed some mistakes in the Olivas Income Statement:
($ millions) Year ended 12/31/15
Sales revenue $1600
Interest Revenue 50
Total Revenue 1650
Cost of Goods Sold (800)
Gross Profit 850
SG&A Expense (400)
Interest Expense (50)
Operating Income 400
Gain on sale of equipment 200
Pre-tax income 600
Income Tax Expense (216)
Net Income 384
What is Olivas' Operating Income for the year ended 12/31/2015 after correcting the mistakes?

$450

$600

$550

$400

$350
Business
1 answer:
Arte-miy333 [17]3 years ago
6 0

Answer:

$400

Explanation:

The computation of the corrected operating income is shown below:

= Sales revenue - costs of goods sold - SG&A Expense

= $1,600 - $800 - $400

= $400

The gross profit would be

= Sales revenue - costs of goods sold

And the operating income would be

= Gross profit - SG&A Expense

For computing the operating income, we deduct the costs of goods sold and the SG&A Expense from the sales revenue

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Igoryamba

Answer:

Product or service profiling.

Explanation:

Product or service profiling is the term used to describe the linking of key product or service requirements to process capabilities.

Generally, most organizations and business owners use the product or service profiling strategy to enhance consistency through the identification of their key services or product line and as such are avail the opportunity to select the appropriate process, procedures and techniques to achieve their goals and objectives successfully.

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2 years ago
The average annual stock return is 11.3%. If you begin your investment portfolio with $2,000, what will your portfolio be worth
Natasha_Volkova [10]

Answer:

6780$

Explanation:

We first find 11% of 2000 by the following equation

2000 x .11

From this we get the annual interest 226$

226$ x 30 = $6780

6 0
3 years ago
Read 2 more answers
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Ivanshal [37]

Answer:

The correct answer to the following question is D) interest rates would be increased  by the government when there is almost full employment in the economy.

Explanation:

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So to cut the prices, government will increase the interest rate which will lead to the increase in cost of borrowing, and that will cause decrease in money supply and demand will ultimately fall, which leads to decrease in prices of goods and services.

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3 years ago
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A spoils system refers to a system of patronage in which the victorious candidate or party in an election gives public offices to their supporters as reward and incentive.

It was a common phenomenon in the United States, until a civil service reform movement led to passage of the Pendleton Act of 1883, which instituted merit-based appointments to offices at the federal level.

Hiram Johnson was a former Governor of California between 1917 to 1945. He was credited with many progressive reforms, among which was ensuring the executive bureaucracy operated on the basis of merit and not political patronage.

To learn more about Hiram Johnson: brainly.com/question/8407551

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2 years ago
Empirical estimates show that for men ____________________________. a) the income effect is greater than the substitution effect
disa [49]

Answer:

a)- the income effect is greater than the subsitutuion effect

Explanation:

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