1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
blagie [28]
3 years ago
6

Item 15Item 15If Beck's Bicycles, Inc.'s income statement shows gross profit of $350 million, with operating expenses of $120 mi

llion, and if Beck's tax rate is 30%, what is the firm's net income after taxes
Business
1 answer:
Alinara [238K]3 years ago
8 0

Answer:

$161 million

Explanation:

Given that,

Gross profit = $350 million

Operating expenses = $120 million

Tax rate = 30%

First, we need to find out the income before taxes by subtracting operating expenses from the gross profit then we are able to determine net income after taxes.

Income before tax:

= Gross profit - Operating expenses

= $350 million - $120 million

= $230 million

Net income after taxes:

= Income before tax - Taxes

= $230 million - (0.30 × $230 million)

= $230 million - $69 million

= $161 million

You might be interested in
The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. to make thi
PSYCHO15rus [73]

The two activities to serve with a market offering. to make this decision, marketers engage are segmenting and targeting.

Segmentation is the process of classifying the market into several accessible groups. Targeting is the process of focusing on a specific market segment in order to offer products from all market segments.

There are many ways to segment your target market. Geographic - By Country, Region, State, City, Neighborhood. Psychographic - by personality, risk aversion, values, or lifestyle.

Learn more about market offering here: brainly.com/question/25754149

#SPJ4

8 0
1 year ago
Teller's checks and personal checks are classified as
Veseljchak [2.6K]
The awnser to the question is A Drafts
6 0
2 years ago
Read 2 more answers
apone has the following estimates for the upcoming year: Activity Cost Pool Estimated Overhead Cost Estimated Activity Machine-r
KatRina [158]

Answer:

Activity rate for testing $66.22 per test

Explanation:

we will divide the cost pool over the expected activity base

In this case we divide the $124,500 over the 1,880 tests

\frac{Activity\: Pool}{Activity \: base}= Activity\:Rate

124,500 / 1,880 = 66,2234 = 66.22

7 0
2 years ago
What is an organized activity that provides goods and services to others at a
Radda [10]

Answer: C

Explanation:

A business is any activity that provides goods or services to consumers for the purpose of making a profit.

4 0
2 years ago
Which of the following sentences express correct number style? Check all that apply. a. The average salary increase for Division
LuckyWell [14K]

Answer:

b

Explanation:

Statement a is incorrect because of 2.8 percent instead of 2.8%

Statement c is incorrect because of February fifteenth instead of February 15

Statement b is correct

7 0
3 years ago
Other questions:
  • Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch
    11·1 answer
  • Wages salaries expense is equal towhat?
    7·1 answer
  • During 20x8, a firm discontinued a component qualifying for separate disclosure within the income statement. The disposal was co
    7·1 answer
  • 1. Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund contained $28 and had the followi
    8·1 answer
  • On 3/15/20, Robertson Corp. bought land from Lear, Inc. for $248,000. Lear had carried the land on its books at $240,000. Robert
    7·1 answer
  • When marginal cost is below average variable cost, average variable cost must be:______a. At its minimum. b. At its maximum. c.
    5·1 answer
  • What are some of the various potential sources for business credit? Give at least three examples
    10·1 answer
  • The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet. She has studied three locations
    10·1 answer
  • Jamie is single. In 2020, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gro
    6·1 answer
  • Alec just received his Florida broker license. Assuming the Real Estate Recovery Fund balance is at $400,000, how much of his li
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!