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
Ivan
2 years ago
7

During the fiscal year ended 2016, a company had revenues of $520,000, cost of goods sold of $375,000, and an income tax rate of

36 percent on income before income taxes. What was the company's 2016 net income
Business
1 answer:
7nadin3 [17]2 years ago
8 0

Answer:

the net income is $92,800

Explanation:

The computation of the net income is given below:

Net income is

= Sales - cost of goods sold - tax rate on the remaining balance left

= $520,000 - $375,000 - (($520,000 - $375,000) ×0.36)

= $145,000 - $145,000 × 0.36

= $145,000 - $52,200

= $92,800

Hence, the net income is $92,800

You might be interested in
Jim operates his business on the accrual method and this year he received $4,000 for services that he intends to provide to his
Ainat [17]

Answer:

He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.

7 0
3 years ago
_______ planning develops alternative courses of action that may be used in a specific situation when things do not go according
AleksandrR [38]
Pre- is probably the answer, I’m sorry if it’s wrong.
5 0
2 years ago
Problem location and definition is the first step toward finding a solution to a marketing problem or launching a research study
Lina20 [59]
Problem location and definition is the first step toward finding a solution to a marketing problem or launching a research study. The sign of a problem is usually a departure from some normal functions, for instance, failure to attain objectives.
5 0
3 years ago
_____________ are sunk costs because the company will have to pay the cost no matter production or other variables in operations
Lina20 [59]

Answer:

E. Fixed Costs

Explanation:

Here are the options to this question :

A. Variable Costs

B. Labor Costs

C. Total Costs

D. Raw material Costs

E. Fixed Costs

Sunk costs are costs that have already been incurred and cannot be recovered. They should not be considered when making future economic decisions.

Fixed cost is cost that do not vary with production. e.g. rent

Most companies pay rent per year. if due to unforeseen contingencies, sales and profit of the company declines and the company decides to shut down production, the company has already paid for rent, this amount cannot be recovered even though the company would not be using the space for sometime. So, rent is an example of sunk cost

6 0
3 years ago
When valuing a firm with the weighted average cost of capital, the blank______ value of the firm can be estimated by assuming a
Ludmilka [50]

The firm's blank command line value can be calculated by assuming a continual perpetual rate of growth for cash flows beyond the horizon.

<h3>How does terminal value work?</h3>

An asset, company, or project's value after the anticipated time frame at which future cash flows can be predicted is known as its terminal value (TV). A business will supposedly continue to grow at a specific rate after the forecast period, according to the concept of terminal value.

<h3>Uses for terminal value:</h3>

The terminal value (TV) of a business is its estimated present value after the explicit forecast period. The Gordon Growth Model, special discount cash flow, and residue left earnings computation.

To know more about terminal value visit:

brainly.com/question/25296684

#SPJ4

7 0
1 year ago
Other questions:
  • You have planned purchases of $2,500. you have received orders that total $1,200, and you have ordered merchandise that totals $
    10·1 answer
  • Portable Pet Care, Inc., a mobile veterinary clinic, is planning for the future. The company owners (two seasoned veterinarians)
    10·1 answer
  • One of the differences between managers and leaders is that managers focus on visions, missions, goals, and objectives, and lead
    13·1 answer
  • g Dave's Duds reported cost of goods sold of $2,000,000 this year. The inventory account increased by $200,000 during the year t
    8·1 answer
  • Which statement is a PRIMARY characteristic of a capitalist system?
    12·2 answers
  • The innovation paradox implies that consistency in products and services provokes a tension with the need for new products. This
    14·1 answer
  • The consumer wi-fi-service providers’ market is best described as a
    13·1 answer
  • A strategic window results from the right combination of circumstances and timing, allowing a firm to take action to reach a par
    14·1 answer
  • William wrote a check for $150.00 for his gas bill, but he only has 96.26 in his checking account. What will happen to the check
    5·1 answer
  • Write the definition in your own words
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!