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grigory [225]
3 years ago
15

Blossom Corporation had net sales of $2,410,900 and interest revenue of $36,700 during 2017. Expenses for 2017 were cost of good

s sold $1,460,400, administrative expenses $218,600, selling expenses $286,400, and interest expense $50,800. Blossom’s tax rate is 30%. The corporation had 105,200 shares of common stock authorized and 73,090 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Blossom Corporation.

Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

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Scotch Inc. arranged a $7,000,000 revolving credit agreement with a group of banks. The firm paid an annual commitment fee of 0.
baherus [9]

Answer:

$575,000

Explanation:

Data provided:

The total amount for the credit agreement = $7,000,000

The amount borrowed by the firm = $6,000,000

The annual commitment fee for the unused balance = 0.5%

Prime rate of interest = 8%

Interest paid above the prime rate = 1.5%

Now,

the unused amount = $7,000,000 - $6,000,000 = $1,000,000

The amount of commitment fees paid

= total unused amount × Annual commitment fees

= $1,000,000 × 0.005

= $5000

Total interest paid on the borrowed amount

= Amount borrowed × (prime rate + additional rate)

= $6,000,000 × ( 0.08 + 0.015)

= $6,000,000 × 0.095

= $570,000

Hence,

the total dollar annual cost of the revolver

=  interest paid on the borrowed amount + amount of commitment fees paid

= $570,000 + $5000

= $575,000

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3 years ago
18. Information gained by applying someone else's survey information to your business is called A. potential customer sourcing.
ivanzaharov [21]
C demographic research 
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Strategic planning starts with a _____ that reflects a firm’s vision, purpose, and values.
ivann1987 [24]

Strategic planning starts with a mission statement that reflects a firm’s vision, purpose, and values.

Strategic Planning Process: Strategic planning is the process of identifying long-term organizational goals, strategies, and resources, focusing on the horizon more than three years away.

Most large companies rely on one person to evaluate system requirements rather than relying on a system review committee. When assessing the feasibility of a schedule, systems analysts need to consider the trade-off between time and cost.

CRM (Customer Relationship Management) components can provide automated responses to sales inquiries, online order processing, and inventory tracking values.

Learn more about Strategic planning at

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Answer:

The correct answer is D) offers growth in revenues and profits by discovering or inventing a new industry or distinct market segment that renders rivals largely irrelevant and allows a company to create and capture altogether new demand.

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The blue ocean strategy is a marketing theory that determines the need for organizations to forget about competition and focus especially on creating their own growth possibilities, which allows perceiving other variables that are of greater importance for business and that generally remain hidden due to the price war in which the market has been involved.

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A requirements contract is too vague to be a legally-enforceable agreement. Group of answer choices True False
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FALSE

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