is the organization providing a charitable or public service? if so, what is it? will the company still have profit to motive?
1 answer:
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Answer and Explanation:
As per the data given in the question,
1)
Insignia Corporation
Income Statements
For the year ended Dec-31
Change in
Particulars 2015 2014 Dollars %
Revenues 126 266 -140 -52.6%
Cost of crude oil and products 63 153 -90 -58.8%
Other operating costs 61 55 6 10.9%
Income before income tax expense 2 58 -56 -96.6%
Income tax expense 0 30 -30 -100.0%
Net income 2 28 -26 -92.9%
2-a)
Insignia Corporation
Income Statements
For the year ended Dec-31
2015 2014
Revenues 126 100.0% 266 100.0%
Cost of crude oil and products 63 50.0% 15.3 57.5%
Other operating costs 61 49.4% 55 20.7%
Income before income tax expense 2 1.6% 58 21.8%
Income tax expense 0 0.0% 30 11.3%
Net income 2 1.6% 28 10.5%
2-b)
No, Insignia earned $0.575 per dollar of revenue in 2015 but it earned only $0.500 per dollar of revenue in 2015.
