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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

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Answer:

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Explanation:

Since Wink soda was a new product of Canada Dry, <u>it needed a catchy slogan to create awareness and invite customers to try out the product.</u>

The slogan "Join the cola dropouts", was one that told customers that <u>Wink soda was something different from cola, and should be given a try.</u>

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3 years ago
Determine the statements below that are true regarding why a bank reconciliation is used. (Check all that apply.) a) The Cash ac
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Answer:

b)Timing differences between the bank statement and the depositor's records are reflected in the bank reconciliation.

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Explanation:

The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.

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3 years ago
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1 year ago
In 2019, Richard's Department Store changes its inventory method from FIFO to LIFO. Richard's uses the simplified LIFO method. R
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Answer:

C) $22,727.

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to determine the LIFO layer = adjusted 2019 inventory - 2018 inventory = $322,727 - $300,000 = $22,727

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What is a major goal of ecotourism
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Hope this helped! Good luck!! :)

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