Answer:
Net Income $66100
Explanation:
<u>Racine Furnishings Company </u>
<u>Multi Step Income Statement </u>
<u>For the Year Ended March 31, 2019</u>
Sales 6,126,850
Cost of Merchandise Sold 3,965,850
Gross Profit 2161000
Less Operating Expenses
Depreciation $747,950
Supplies Expense ( 87000- 20650) 66350
Salaries Expense 7,700
Selling Expenses 717,650
Administrative Expenses 545,700
Operating Income 75,650
Other Expenses
Interest Expense 9,550
Net Income $66100
From the sales cost of merchandise sold is subtracted to get the gross profit. The operating expenses are subtracted from the gross profit to get the operating income. Other expenses such as interest expense is subtracted to get the net income.
In order to compete with the online retailers, the traditional retailers can use franchises that deliver, require an administered system for all, and increase their market share.
<h3>Who is a retailer?</h3>
A manager or owner of a business organization or a unit that specializes in selling of products to their customers, which they procure from the supplier, is known as a retailer.
Hence, options A, C and D hold true regarding the traditional retailers.
Learn more about a retailer here:
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Answer:
The correct answer is option d.
Explanation:
The marginal benefit of another T-shirt is $15. The price of the T-shirt is $10.
The marginal cost is equal to the price, so it is also $10.
The marginal benefit earned from the T-shirt is greater than the marginal cost incurred on a T-shirt.
According to economic reasoning, it is profitable to buy another T-shirt. So, Mary will buy another T-shirt this month.
M1 and M2 are the 2 main official measure of money.
M1 measures more liquid assets that are easily accessible to the owner including cash and checking accounts. M2 measures all of M1 plus "near money" which is money tied up in investments like savings, mutual funds, and other investments.
Answer:
The correct answer is $2,580.
Explanation:
Under straight-line method, depreciation expense is (cost - residual value) / No of years = ($15,350 - $3,200) / 6 years = $2,025 yearly depreciation expense.
Accumulated depreciation at Year 3 = $2,025 x 3 = $6,075
Net book value (NBV) becomes $15,350 - $6,075 = $9,275
New depreciation is ($9,275 - $1,535) / 3 years = $2,580 yearly depreciation expenses
