Answer:
$67,600
Explanation:
income from operations = gross profit - operating expenses.
In this case, the income from operations = EBIT, it is not always that way because EBIT includes non-operating income, but in this case this doesn't exist.
Sales Revenue 320,000
- Sales Discounts 9,400
<u>- Sales Returns & Allowances 43,000 </u>
Net sales = 267,600
<u>- Cost of Goods Sold 153,000 </u>
gross profit = 114,600
- Advertising Expense 20,000
- Delivery Expense 7,600
- Insurance Expense 1,000
<u>- Rent Expense 18,400 </u>
income from operations = 67,600
Cheap steel, Henry Bessemer invented a way to sell and make steel for a cheaper price.
This was helpful enough to make other things for a cheaper price because of how cheap steel was
Answer:
True
Explanation:
Economic integration refers to an agreement between countries to eliminate trade barriers and coordinate their monetary policies. The integration allows to reduce trade costs, more employment opportunities as there is mobility and market expansion. Usually, this is considered a regional trading arrangement as it tends to be between neighboring countries. An example of a economic integration is the European Union. According to this, the statement is true.
Answer:
$0
Explanation:
The computation of the annual amortization for goodwill is shown below:
As we know in the case of goodwill, the impairment test is to be done on periodic basis and if there is any fall in the value so the same is to be reported as the impairment loss
So for goodwill, no amortization is to be done
hence, the annual amortization is zero
