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Marina86 [1]
3 years ago
9

A proposed new investment has projected sales of $515,000. Variable costs are 44 percent of sales, and fixed costs are $128,500;

depreciation is $49,750. Prepare a pro forma income statement assuming a tax rate of 24 percent. What is the projected net income?
Business
1 answer:
Basile [38]3 years ago
7 0

Answer:

Net operating income= $83,714

Explanation:

Giving the following information:

Sales= $515,000.

Variable costs are 44 percent of sales

Fixed costs are $128,500

Depreciation is $49,750.

Tax=  24 percent.

<u>Income statement:</u>

Sales= 515,000

Total variable cost= (0.44*515,000)= (226,600)

Gross profit= 288,400

Fixed costs= (128,500)

Depreciation= (49,750)

Operating income= 110,150

Tax= 110,150*0.24= (26,436)

Net operating income= 83,714

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The Wage and Tax statement, more commonly known as the W2 form, must be filed by the employers with the IRS by 31st January, irrespective of whether it’s being filed manually (on paper) or electronically.

The employees must also mail or make arrangements to send the W2 form to their employees by the same date.

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3 years ago
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Answer:

e. I, II, III, and IV

Explanation:

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3 years ago
Keynesian economics argues for the use of _____ policy to stabilize the economy.
slavikrds [6]

Answer:

Keynesian economics argues for the use of active government policy to stabilize the economy.

Explanation:

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1 year ago
Suppose the price of a bag of jelly beans rises from $1.60 to $2.00, with the result that sales of jelly beans falls from 120 ba
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Answer:

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Computing the elasticity of demand for jelly beans as:

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C is the answer for this question....

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Read 2 more answers
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